The town’s beach engineer, Boca-Raton-based Coastal Planning & Engineering, was acquired by Baton Rouge, La.-based The Shaw Group Inc. Tuesday in an all-cash transaction valued at about $26 million, according to a press release.
Shaw, a Fortune 500 company and a leader in coastal engineering and restoration, has worked with CP&E on multiple coastal engineering projects in the past, including a recent sand berm project for the coastline of Louisiana.
"The acquisition of Coastal Planning & Engineering positions Shaw as a clear leader in coastal restoration services," said George Bevan, president of Shaw's Environmental & Infrastructure Group, in a statement.
Shaw has about 27,000 employees around the world and annual revenues of $7 billion.
Town Manager Bruce St. Denis said the town would see no changes as a result of the acquisition.
“I was assured it won’t impact any of our projects,” St. Denis said. “It’s primarily a difference in Louisiana operations.”
Tom Campbell will remain the president of CP&E; and Beau Suthard will continue to be the director of Tampa Bay regional office and the Longboat Key beach project manager.
Contact Kurt Schultheis at firstname.lastname@example.org.
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- Now's the time to start looking around for another Beach Engineer, one that's not too cosy with St. Denis.
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