Engineering Tech

Michael Baker International Acquires Tidal Basin

Michael Baker International Acquires Tidal Basin

Michael Baker International, a global leader in engineering, planning and consulting services, announced today that the firm has acquired Tidal Basin, a leading comprehensive emergency and disaster management consulting firm. Tidal Basin will continue to operate as a stand-alone entity and will complement Michael Baker's efforts to support the nation's recovery efforts and rebuild infrastructure to be safer and more resilient.

"We are excited to welcome Tidal Basin as a sister company to Michael Baker. This relationship is a tremendous opportunity for the two firms to work closely together to drive more value for a shared client base that encompasses more than 90 locations across the country," said Thomas J. Campbell, Chairman of Michael Baker International and Founder and Managing Partner of DC Capital Partners. "Both firms bring added strength to the market with complementary resources and capabilities to take on larger resiliency projects while delivering the exceptional client service for which they are known."

This new relationship pairs the depth and breadth of Michael Baker's engineering and consulting expertise with Tidal Basin's extensive experience and comprehensive suite of services relative to preparedness, mitigation, response, recovery and program management - which are increasingly important as public and private entities contend with volatile climate activity and man-made emergencies. Tidal Basin has served as a vital resource during times of crisis, including public health emergencies and other unforeseen events. Working more closely together will allow both firms to provide even stronger program and technical management expertise and resources to clients, including governments, businesses and communities.

Michael Baker and Tidal Basin have a history of working together on projects throughout the country, including planning projects targeting wildfires in California and infrastructure projects in Colorado and New York. The new relationship between the firms creates many avenues to leverage synergies and growth opportunities across Michael Baker's five distinct verticals: Infrastructure, Design-Build Services, Federal Programs and Services, Consulting and Technology Solutions (CTS) and Sustainable and Resilient Solutions (SRS). Growth opportunities exist through the strong relationship both organizations have with the Federal Emergency Management Agency (FEMA), while pursuing additional business across all Federal agencies. This includes expanding relationships with federal civilian agencies, state and local entities, departments of transportation nationwide as well as projects in the broadband services, light detection and ranging (LiDAR) and geographic information systems (GIS) sectors, among others.

Tidal Basin is led by founder and CEO Daniel A. Craig, a leader with extensive experience with FEMA and the disaster consulting and post-disaster recovery industries. He has advised the White House and more than a dozen governors and state administrations on recovery, housing, and long-term economic recovery strategies. Mr. Craig also served as a presidentially appointed Associate Administrator for FEMA's Recovery Division where he was responsible for overseeing the federal government's recovery efforts on all presidentially declared events including the Space Shuttle Columbia crash, the wildfires of 2003, and the hurricanes of 2004 and 2005. Mr. Craig is supported by a deep team of industry experts and experienced professionals including Amy K. Baker, Executive Vice President, Government Consulting; Melissa J. Gordon, Executive Vice President, Enterprise Solutions and Stephen T. Surace, President and Chief Financial Officer. Currently, the Tidal Basin team is leveraging its technology enabled solutions to expedite recovery efforts related to the tragic Maui wildfires.

The McLean Group acted as financial advisor and Davis Wright Tremaine LLP acted as legal advisor to Tidal Basin in connection with the transaction. Arnold & Porter, LLP acted as transaction counsel and White & Case, LLP acted as debt counsel to DC Capital.

About Michael Baker International

Michael Baker International is a leading provider of engineering and consulting services spanning five distinct Verticals: Infrastructure, Design-Build Services, Federal Programs and Services, Consulting and Technology Solutions (CTS) and Sustainable and Resilient Solutions (SRS). The firm's Practices encompass all facets of infrastructure, including design and civil engineering for diverse bridge, highway, water, rail and transit and aviation projects, as well as planning, architecture, environmental and construction and program management. For more than 80 years, the company has been a trusted partner to clients, providing comprehensive services and solutions, delivering expertise and quality, and embracing emerging technologies and the latest innovations – like intelligent transportation, engineered models and public safety software as a service (SaaS).

Spotlight

Other News
Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

Read More

Spotlight

Resources