Jacobs Partnership to Make Moroccan AcquisitionFriday, June 22, 2012
Jacobs Engineering Group Inc. and joint-venture partner OCP S.A said late Friday they plan to acquire all the shares of Team Maroc, a full-service engineering and management consultancy firm in Morocco.
The deal will be completed through the Pasadena engineering company’s Casablanca-based joint venture, Jacobs Engineering SA. Team Maroc is based in the capitol city of Rabat and employs 171 people who provide services for large infrastructure projects, including roads, water supply systems and buildings.
"By combining the energies and skills of JESA and Team Maroc, we can build stronger client partnerships and expand our reach as a leading engineering company in the region,” said Jacobs Group Vice President Robert Matha in a statement.
Terms of the deal were not announced.
Jacobs shares closed up 28 cents, or less than 1 percent, to $35.40 on the New York Stock Exchange prior to the announcement.