LOS ANGELES, CA—Partner Engineering and Science Inc. (Partner), a-based engineering and environmental firm, is acquiring Eatontown, N.J.-based Birdsall Services Group (BSG), a design and engineering firm.
Partner’s bid to purchase select assets of BSG was approved June 5, 2013 by a U.S. Bankruptcy Court Judge after BSG filed for bankruptcy earlier in the year.
Partner’s bid, which was filed on May 24, required Partner to pay $5.6 million for select assets, including BSG’s accounts receivable, physical assets, select contracts, existing project files, select intellectual property and license agreements. The agreement also requires Partner to make additional payments to the court next summer based on performance.
Closing is expected between June 15 and June 20.
The acquisition will enable Partner to take advantage of BSG’s multiserviceand engineering talent and client base, while BSG will benefit from Partner’s stability, resources and national footprint.
Partner will be retaining as many of the firm’s staff as possible.