US-headquartered construction group Hill International has acquired India’s Neyo Group, a cost consulting firm with some 120 professionals working from offices in Bangalore, Delhi, Chennai and Mumbai.
The acquisition gives Hill local cost estimation capabilities and doubles the company’s full-time staff count there to 220. It also grows 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 providing an additional line of service to complement our project management services,” Hill’s senior vice president for Asia-Pacific, Said Mneimne, told GCR.
He added: “This acquisition will give us an insider’s entry into the Indian development and infrastructure market.”
Hill International chief executive Raouf Ghali told a second-quarter earnings call on 10 August that the acquisition was not “material” but rather “strategic”.
“The acquisition specifically provides us with estimating capabilities, which we did not possess in India,” he said. “We now have the ability to involve Neyo in … larger project opportunities and leverage the fine reputation the company has built throughout India.”
Hill International’s two current major projects in India are the Indian Oil Corporation’s new Technology Development and Deployment Centre and the Mumbai Metro Line 4.
Image: The Rajiv Gandhi Sea Link connecting the Mumbai suburbs of Bandra and Worli across Mahim Bay (Previn Samuel/Unsplash)