Jacobs Engineering sells ECR business to WorleyParsons for $3.3B
Jacobs Engineering announced that it has entered into a definitive agreement to sell its Energy, Chemicals and Resources segment to WorleyParsons for $3.3B, consisting of $2.6B in cash and $700M in WorleyParsons ordinary shares. The transaction value represents a multiple of more than 11.5 times trailing twelve-month adjusted EBITDA for the ECR business. Following the completion of the transaction, Jacobs will be focused solely on its two higher growth, higher margin lines of business - Aerospace, Technology, Environmental & Nuclear and Buildings, Infrastructure & Advanced Facilities. The company will report results for fiscal 2018 on November 20.