ICF International Completes Acquisition of Jones & Stokes
ICF International (NASDAQ: ICFI) announced today it has closed on the acquisition of Jones & Stokes, an integrated planning and resource management firm specializing in the transportation, energy, water, and natural resource management sectors. The purchase price was approximately $50 million. The present management team and employees will remain with the company.
As previously announced, ICF expects the company to generate revenue of approximately $72 million in 2008 with an EBITDA margin of about 9 percent to 10 percent. Going forward, ICF anticipates annual revenue growth of at least 10 percent and similar EBITDA margins. The transaction is expected to be accretive to 2008 earnings.
Jones & Stokes is a multidisciplinary consulting firm headquartered in Sacramento, California. With 19 offices in seven states, the firm provides a wide range of natural resource management and planning services to public agency and private clients throughout the nation.
About ICF International
ICF International (NASDAQ: ICFI) partners with government and commercial clients to deliver consulting services and technology solutions in the energy, climate change, environment, transportation, social programs, health, defense, and emergency management markets. The firm combines passion for its work with industry expertise and innovative analytics to produce compelling results throughout the entire program life cycle, from analysis and design through implementation and improvement. Since 1969, ICF has been serving government at all levels, major corporations, and multilateral institutions. More than 3,000 employees serve these clients worldwide. ICF’s Web site is www.icfi.com.