Brazilian environmental services provider Ambipar said it bought Witt O’Briens for an enterprise value of $161.5 million, pushing ahead with its global expansion.
The deal, made through its subsidiary Ambipar Response, marks the company’s entry into Asia and Oceania markets and strengthens its presence in the continents where it already operates, Ambipar said in a securities filing.
Witt O’Briens specializes in crisis and emergency management for corporate clients and provides consulting services to the U.S. government, according to Ambipar. The company was a responder in major global emergencies, such as Deepwater Horizon and hurricanes Katrina and Sandy.
The acquisition takes place shortly before the completion of Ambipar Response’s tie-up with U.S. listed SPAC HPX Corp, set to happen by the year’s end.
Ambipar said that the deal “positions it prominently in a market driven by increased federal funding for resiliency programs and a corporate focus on risk management, ESG, and compliance.”
Source: Reuters.com