Global Infrastructure Solutions Inc. (GISI) and Hill International, Inc. announced that their boards of directors have approved a definitive agreement to merge the diversified construction management companies, setting the stage for increased competitiveness and accelerated organic growth in global, for-fee infrastructure consulting markets. The all-cash transaction does not include a financing contingency, has the unanimous support from the Hill Board of Directors, and is expected to close in the fourth quarter of 2022, pending regulatory review.
“Growing this segment of GISI’s consulting platform has been a strategic priority since our 2016 inception. Hill International’s addition to the GISI family of companies enables us to extend our value proposition to more clients, employees, our shareholders and the communities we serve.”
“Hill International is the largest independent project management and construction management for-fee firm serving global infrastructure markets,” said GISI President, CEO and Board Director Rick Newman. “Growing this segment of GISI’s consulting platform has been a strategic priority since our 2016 inception. Hill International’s addition to the GISI family of companies enables us to extend our value proposition to more clients, employees, our shareholders and the communities we serve.”
UBS Investment Bank was the sole financial advisor to GISI on the Hill transaction, Cooley LLP was the legal advisor. Hill was assisted on the transaction by financial advisor Houlihan Lokey and legal advisor Duane Morris LLC.
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Hill International CEO Raouf Ghali said of the decision to join GISI: “Since our founding in 1976, Hill has grown into an industry-leading program, project, and construction management company. By joining the GISI family of companies, Hill will be well-positioned to continue to take advantage of the opportunities the industry offers while concurrently enhancing the quality of our client services thanks to GISI’s focus on long-term success.”
“As with our prior mergers, GISI will work to preserve the Hill brand and legacy because of the value Raouf Ghali and his team have created over the years,” Newman said. “Although shares of Hill International will no longer be publicly traded when this transaction closes, Hill management and employees will be offered participation in GISI’s distinctive employee-ownership program where legally permissible. We believe that the employee stock ownership program is a key element of GISI’s success; our employees act like owners because they are owners. GISI is a corporate enterprise of shared responsibility and reward.”
GISI provides the resources its partner firms may require to gain the competitive advantage for success, GISI is the largest privately owned construction manager in the commercial building, industrial and healthcare markets, and a leading project/construction manager in the environmental and public infrastructure sectors.