US construction group Hill International has acquired Indian group Neyo, a cost consultancy with some 120 professionals working out of offices in Bangalore, Delhi, Chennai and Mumbai.
The acquisition gives Hill local costing capabilities and doubles the number of full-time employees of the company to 220. It also brings the number of offices to six, including its existing offices in Gurgaon (near Delhi) and Mumbai.
“We have now expanded our presence and footprint in India and are providing an additional range of services to complement our project management services,†said Hill’s senior vice president for Asia-Pacific, Said Mneimne, GCR.
He added: “This acquisition will give us insider entry into the Indian development and infrastructure market.
Hill International chief executive Raouf Ghali said on August 10 during a second quarter earnings conference call that the acquisition was not “material” but rather “strategic”.
“The acquisition specifically provides us with estimation capabilities, which we did not have in India,†he said. “We now have the opportunity to involve Neyo in… larger project opportunities and capitalize on the good reputation the company has built for itself across India. “
Hill International’s two current major projects in India are the Indian Oil Corporation’s New Technology Development and Deployment Center and Mumbai Metro Line 4.
Image: The Rajiv Gandhi Sea Link connecting the suburbs of Mumbai to Bandra and Worli across Mahim Bay (Previn Samuel / Unsplash)
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