ICF International to Acquire Marbek Resource Consultants Ltd.
Acquisition to Enhance ICF Reach into Canadian Energy, Environment, and Climate Change Markets
Fairfax, Virginia, December 17, 2010 -
ICF International (NASDAQ:ICFI), a leading provider of consulting services and technology solutions to government and commercial clients, announced today that it has signed a definitive agreement to purchase Marbek Resource Consultants Ltd., a leading Canadian energy and environmental consulting firm, whose 2010 revenue is expected to be approximately 6 million Canadian dollars. ICF expects the transaction to close on or about January 1, 2011.
The acquisition of Marbek will create a fully integrated energy, climate, and environmental consultancy with a strong footprint in Canada that strengthens the combined firm's position as a leading player in energy efficiency, renewable energy, and pollution prevention programs. Further, by joining ICF and Marbek, cross-selling opportunities will be created by capitalizing on Marbek's recognized brand name and strong client relationships in Canada.
Marbek operations in Ottawa and the greater Toronto area will complement ICF's existing capacity in Toronto and Calgary. With the addition of the Marbek staff of about 35 employees, the acquisition will create one of the largest consultancies in Canada's growing market for energy and environmental services.
"We are happy to welcome Marbek to ICF International. The joining of our two companies builds upon mutually strong backgrounds working in the energy and environment fields," said ICF International Chairman and CEO Sudhakar Kesavan. "Marbek is well known for being innovative and responsive to client needs and for delivering results with an uncompromising commitment to quality. This acquisition allows ICF to build scale in Canada and to create business expansion opportunities internationally."
"We are very pleased to join with ICF International, a well-known and respected consultancy that combines passion for its work with industry expertise to produce compelling results," said Greg McGuire, President for Marbek. "Integrating Marbek and ICF will create one of the preeminent professional services firms in North America and will allow us to offer an expanded and comprehensive array of advisory, implementation, and evaluation services to develop practical solutions to critical global issues."
Based in Ottawa and founded in 1983, Marbek has an outstanding reputation as one of the leading environment and energy management consulting firms in Canada, providing policy, program, technical, and management advisory services to Canadian and international clients. Marbek develops solutions to the resource and environmental challenges confronting government and commercial clients by offering multi-disciplinary expertise and experience to its clients, which include federal, provincial, and municipal government departments; energy utilities and companies; industry and industry associations; research agencies; development banks; and non-governmental organizations.
About ICF International
ICF International (NASDAQ:ICFI) partners with government and commercial clients to deliver professional services and technology solutions in the energy and climate change; environment and infrastructure; health, human services, and social programs; and homeland security and defense markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from research and analysis through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,500 employees serve these clients worldwide. ICF's Web site is http://www.icfi.com.
Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; and our ability to acquire and successfully integrate businesses. These statements include those that refer to ICF’s current expectations about the acquisition of Marbek. Although ICF believes its expectations are based on what management believes to be reasonable assumptions, it cannot assure the expectations reflected in this document will be achieved as they are subject to risks and uncertainties that are difficult to predict and may be outside of ICF’s control. Such risks and uncertainties include the possibility that the benefits anticipated from the Marbek acquisition will not be fully realized; the possibility the transaction may not close; and other risks in connection with the proposed transaction. Other factors that could cause our actual results to differ from those indicated in forward-looking statements are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.