Baker Acquires The LPA Group
May 04, 2010 08:03 AM Eastern Daylight Time
PITTSBURGH--(EON: Enhanced Online News)--Michael Baker Corporation (NYSE Amex:BKR) announced
today that it has acquired The LPA Group, Incorporated (LPA), a 475-person transportation consulting firm based
in Columbia, South Carolina. LPA significantly expands Baker’s presence in the Southeastern U.S. transportation
infrastructure market, and broadens the Company’s already strong capabilities in the planning, design, program
management and construction management of projects in the aviation, highway, bridge, and rail and transit markets.
The terms of the transaction were a total consideration of $59.4 million, of which $51.4 million was paid in cash and
$8.0 million was paid in Baker common stock.
Founded in 1981, The LPA Group (www.lpagroup.com) has more than 35 offices across the Southeastern and
Mid-Atlantic regions of the U.S., as well as Southern California. The highly respected company provides
comprehensive engineering, architectural, planning, environmental, program management, design-build, and
construction management and inspection services for the development of aviation and surface transportation
projects. Its revenue in 2009 was approximately $93 million. The merger of Baker’s and LPA’s services creates a
powerhouse for transportation engineering and construction-related services in North America, expanding the ability
of both companies to compete for and execute larger and more complex transportation projects on a national scale.
In making the announcement, Baker’s President and Chief Executive Officer, Brad Mallory, said, “LPA is an
outstanding company with a very talented team of professional and technical employees. Its prominence in the
Southeast, and particularly in the Carolinas, Georgia and Florida, greatly expands Baker’s presence in that region of
the country, which is a key objective of our growth strategy.” He added that the merging of both firms’ Aviation
practices “puts us in the Top