Balfour Beatty acquires US construction firm for USD$40m

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International engineering group Balfour Beatty has agreed to acquire a US-based constructor for USD$40 million (AUD$62.1 million).

The British-based contractor believes the takeover of North Carolina's RT Dooley will expand it geographical reach, while also yielding access to high-profile clients such as Bank of America and Wachovia.

When conducting due diligence during the acquisition process, financial and legal advisors at Balfour Beatty could likely have benefited from using a secure virtual data room from Ansarada to complete a swift deal.

Ian Tyler, chief executive of Balfour Beatty, commented: "RT Dooley is a high-quality business with a leading position in its market.

"As customers seek an expanded range of services from the same supplier, combining our capabilities with RT Dooley enhances our ability to meet customers' needs."

Staying in the UK, construction firm Galliford Try has suggested that it will be looking to make acquisitions over the coming months, cnplus.co.uk reported.