The opportunities for national and international companies to benefit from growth in Alaska continue to be realized through mergers and acquisitions. The last frontier is becoming the new frontier for companies seeking to strengthen their North American presence and optimize their position for reaching global markets. Alaskan companies often possess a comprehensive skill set and unique solutions to meet the demands of Alaska’s distinctive market, many of which can be applied globally in regions facing similar challenges.
Recent mergers and acquisitions in Alaska include:
- Stantec Acquired USKH, Inc. – Stantec is expanding its presence in the Pacific Northwest with the acquisition of U.S. design firm USKH, Inc. “USKH’s strong presence in Alaska will complement our dominant presence in the Canadian North, and enable us to offer our US and Canadian clients a comprehensive suite of services over the entire emerging resource-rich northern areas of North America.” Said Bob Gomes, Stantec President and CEO. USKH will add an additional 130 employees to the existing 6,000 Stantec has working in 140 offices in the United States. The acquisition allows Stantec to strengthen their focus on oil & gas projects in Alaska, while giving Anchorage-based employees the opportunity to offer their skill sets to customers beyond the Pacific Northwest.
- Aecom acquired URS in a $6 billion deal. While the two companies had previously been rivals the acquisition strengthens the position of Aecom by adding asset heavy URS’s construction capabilities to complement their design prowess. URS has a strong presence in Alaska with three offices in the state; Anchorage, Fairbanks and Fort Wainwright.
- Hillcorp Alaska bought BP’s stake in four oil fields. BP’s desire to further focus on Prudhoe Bay operations and the company’s stake in liquefied natural gas production led to the sale of interest in four North Slope oil fields. Hillcorp’s reputation for increasing production from mature fields makes this a logical choice for both BP and Hillcorp. The deal includes all of BP’s interest in two oil fields and a 50 percent stake in two additional fields. This transaction is Hillcorp’s third major acquisition in the state since 2012, showcasing their ability to prosper in Alaska’s oil and gas industry.
As firm grow and diversify through mergers and Acquisitions with Alaska based companies, opportunities for adding diverse skill sets and strengthening national and global reach continue to develop.