MARLTON, N.J. and ATLANTA, Dec. 15, 2009 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has acquired Boyken International, Inc., a firm that provides project management and construction claims services throughout the Southern U.S. and the Caribbean. Boyken, which has approximately 40 employees, is based in Atlanta, Georgia and has additional offices in Orlando, Florida and Houston, Texas. Terms of the transaction were not disclosed.
"Boyken International is a well-regarded firm with very high-quality professionals and we are excited that they are now part of the Hill team," said Irvin E. Richter, Hill's Chairman and Chief Executive Officer. "The acquisition of Boyken gives us a stronger presence in the South, a region of the country where we expect to see significant growth in the years ahead," Richter added.
"Boyken's strengths in healthcare, hospitality, government and higher education will complement Hill International's extensive commercial and governmental experience," said Donald R. Boyken, FRICS, Chief Executive Officer of Boyken International. In addition to continuing in his current role, Mr. Boyken will also serve as Senior Vice President and South Regional Manager for Hill's Project Management Group.
Boyken International was founded in 1980 and is an international construction consulting firm that provides professional consulting services - from concept through completion - to building owners, developers and other construction industry clients. Based in Atlanta with offices in Orlando and Houston, the firm provides services in strategic planning, development program management, cost estimating and management, scheduling, expert services and the rescue of troubled projects. In 2009, the firm was again ranked among the top 50 U.S. program management firms and the top 100 U.S. construction management-for-fee firms, according to the industry trade publication Engineering News-Record. More information is available at www.boyken.com.
Hill International, with 2,300 employees in 80 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
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Certain statements contained in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information contained in this press release, the matters set forth herein including, but not limited to, any projections of earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include: modifications and termination of client contracts; control and operational issues pertaining to business activities that we conduct on our own behalf or pursuant to joint ventures with other parties; difficulties we may incur in implementing our acquisition strategy; the need to retain and recruit key technical and management personnel; and unexpected adjustments and cancellations related to our backlog. Additional factors that could cause actual results to differ materially from our forward-looking statements are set forth in the reports we have filed with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statement.
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