Brisbane, Queensland Australia and Los Angeles, California, May 31 (AUS)/30 (US) –
Global Infrastructure Solutions Inc. (“GISI”) and Palladium Holdings Pty. Ltd. (Palladium) announced today the parties received the necessary regulatory approvals and have completed a merger agreement under which Palladium will become an 80% owned subsidiary within the GISI family of companies. Palladium management and shareholders will own the remaining 20% interest in the subsidiary. Founded in 1965, Palladium is a global leader in the Official Development Assistance (“ODA”) market, designing and managing large scale social and economic development programs to the world’s most vulnerable communities on behalf of some of the world’s largest government donor agencies.
GISI’s President and Chief Executive Officer Rick Newman stated, “As we have with our eight prior mergers since 2017, GISI management looks forward to a long and productive partnership with Palladium. We are delighted to have Christopher Hirst, Palladium’s Chief Executive Officer and Managing Director, Palladium’s management team, and employees join GISI. Together, we will continue advancing Palladium’s strategic vision for creating positive impact worldwide, while maintaining its culture and core values.”
Palladium has taken a leadership role in implementing international development programs. Working in more than 90 countries and across a broad range of sectors, the Company offers donor agencies a balance of global scale and in-house technical expertise. The merger will further diversify the services offered by Palladium and GISI’s family of companies in the engineering and construction management businesses. More importantly, it will enable Palladium to add infrastructure resources and expertise to many of its development programs as a leading provider of ODA projects.
Palladium’s primary service offerings include Program Management, Logistics, Strategy Execution, and Impact Investment Advisory. Palladium’s social, economic, and infrastructure program management work creates positive, outcome-based impact for its governmental, institutional, and corporate clients and aligns with the United Nations Sustainable Development Goals. Palladium has spent more than half a century developing the essential knowledge and skill set that the private sector can provide in designing solutions that use aid to spark lasting social and economic development.
“Our partnership with GISI provides an outstanding opportunity for us to continue to create development solutions that have positive global impact. We have come to know GISI and its leadership and believe that its long-term vision as a partner for creating value for clients and opportunities for personal growth for its more than 5,000 employees aligns with Palladium’s goals,” said Chris Hirst. “Joining a company principally owned by its employees not only provides opportunities for more of the Palladium team to join me in being shareholders, but also aligns our objectives for a long-term relationship that will enable Palladium to continue to serve the needs of its clients. This is the next logical step in our evolution as a growing, successful company. Together, we look forward to taking Palladium and GISI to the next level of their potential.”
“GISI believes that the merger with Palladium is a transformative partnership for both companies as Palladium becomes the cornerstone of our global Official Development Assistance Platform and a pillar to provide Program Management services for social infrastructure to our clients,” continued Mr. Newman. “We are all coming to realize that the value of physical infrastructure is greatly enhanced if the social infrastructure is in place supporting it. We value the reputation and heritage of Palladium and are committed to maintaining its brand as a way to honor its legacy and further its mission, and we believe that Palladium’s employees will benefit from the collective expertise and resources our combined companies offer.”
“We look forward to welcoming the more than 2,500 employees of Palladium as our partners as we build our global enterprise and an exciting future together,” Rick concluded.
Based on the latest Engineering News Record’s Top 100 Building and Manufacturing Contractors, today GISI’s operating companies with more than 20 recognized brands is the largest privately owned construction manager in the building and manufacturing construction marketplace. Approximately half of GISI’s employees are shareholders and participate in the value they create for their clients, employees and GISI.