OVERLAND PARK, Kan., Jan. 19, 2005 — Black & Veatch Corporation announced that it has completed the acquisition of R.J. Rudden Associates, Inc. (Rudden) located in Hauppauge, New York, a premier strategic, economic and management consulting company specializing in the electric utility industry, and Lukens Energy Group, Inc. (Lukens) located in Houston, Texas, a preeminent management consulting group serving senior management in the oil and gas industry in strategy, risk mitigation, valuation and regulatory matters.
Black & Veatch’s strategy in acquiring Rudden and Lukens is to expand and strengthen its ability to provide financial and business solutions to its clients in the energy and water industries. The Rudden and Lukens organizations will be integrated into Black & Veatch’s Enterprise Management Solutions organization, which was formerly known as Enterprise Consulting.
“These acquisitions demonstrate Black & Veatch’s commitment to building our Enterprise Management Solutions organization” said Len Rodman, Chairman, President, and CEO of Black & Veatch. “They fit our investment profile, offering professionals with industry-leading skill sets, blue-chip clients and reputations for a strong commitment to client service,” said Rodman. “We are excited about the future of the Rudden and Lukens organizations at Black & Veatch. We look forward to developing the natural synergies between our companies.”
“For decades, Black & Veatch has delivered customized advisory solutions to both the energy and water sectors,” said Rodger Smith, President of Black & Veatch’s Enterprise Management Solutions organization. “The acquisition of Rudden and Lukens broadens and deepens our capabilities, particularly in the energy markets, enabling us to expand the use of our resources across clients’ value chains.”
As Black & Veatch companies, the Rudden and Lukens organizations will remain focused on providing clients with management solutions, based on industry expertise, strong implementation capabilities and mission-critical knowledge. At the same time, Rudden’s and Lukens’ consultants will be able to draw on Black & Veatch’s extensive resources to provide expanded strategy, process and technology solutions.
Rudden’s professionals include experienced energy industry executives, energy economists, senior policy experts and regulatory officials, and internationally respected strategists. They are widely published and are highly regarded for their depth of experience and targeted approach to problem solving.
Lukens professionals also include experienced energy industry executives. They have a track record of successfully providing management consulting solutions to the energy industry. “The company’s professionals have significant experience in the practical issues of strategy implementation along with the tools that provide support for strategy implementation,” Smith said.
Black & Veatch has assembled an operations team to assist in the transition. “We understand that client relationships and people are among the most important assets of any company. We have developed a plan to ensure a seamless transition for Rudden’s and Lukens’ clients and professionals,” Smith said.
About Black & Veatch [ www.bv.com ]
Black & Veatch Corporation is a leading global engineering, consulting and construction company specializing in infrastructure development in the fields of energy, water and information. Founded in 1915, Black & Veatch serves its clients with conceptual and preliminary engineering services, engineering design, procurement, construction, financial management, asset management, information technology, environmental, security design and consulting, and management consulting services. The employee-owned company has more than 90 offices worldwide. Black & Veatch is ranked on the Forbes “500 Largest Private Companies in the U.S.” listing for 2004.
About R.J. Rudden Associates
R.J. Rudden Associates, Inc. is among the world’s premier strategic, economic and management consulting firms specializing in energy and utility matters. Throughout its history, the company has assisted clients in mission-critical areas such as: economic and financial analysis; strategic, management and marketing services; industry restructuring support; litigation and regulatory support; technical analysis; and implementation support.
Rudden delivers value through the application of first-hand industry expertise, strong implementation capabilities, thought leadership, and a team-based philosophy that facilitates the transfer of knowledge to our clients. Rudden’s clients encompass the full range of the energy value chain and cut across all market sectors including energy producers, the financial community, the legal and regulatory community, new business ventures, and energy intensive consumers.
About Lukens Energy Group
Lukens Energy Group is a management consulting company advising senior management in the energy industry in the areas of strategy, risk management, valuation, and regulatory support.
Lukens Energy Group provides a broad portfolio of expert advisory services to the energy industry. The company’s professional staff possesses highly skilled knowledge of complex economic, financial and analytical methods, and the practical experience to apply such methods to specific markets, regulations and challenges facing the multifaceted energy industry. Through its substantial investment in intellectual capital, Lukens Energy Group delivers original authoritative economic studies, strategic advice and expert testimony to assist with decision making, risk management and dispute resolution.