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Hill International, Inc. (HINT) Acquires Majority Stake in Gerens Management Group

Hill International (HINT) has recently acquired 60% of the outstanding capital stock of Gerens Management Group, S.A., a company headquartered in Madrid, Spain with additional offices in Barcelona and Cancun, Mexico. Gerens provides project management services on major construction projects throughout Spain, Western Europe and Latin America including residential, commercial, healthcare, retail and leisure, infrastructure, and hotel and resorts. Projects handled by Gerens include the Ciudad Real Airport, the Caja Madrid headquarters building, the new Toledo Hospital, and the 300 Mayakoba Resorts in Mexico’s Rivera Maya.

Hill co-founded Gerens in 1998 but divested its minority stake in the company in 2000. Gerens will change its name back to its original name of Gerens Hill International, S.A. In 2007, Gerens achieved unaudited total revenues of approximately EUR 21.0M ($30.9M). The remaining minority stockholders of Gerens, who own 40% of the company, consist of Gerens’ managing director and a group of leading Spanish savings banks.

Jose Manuel Albaladejo Gonzalez, managing director and co-founder stated, “Gerens’ management and the Spanish stakeholding banks feel excited about this agreement with Hill International which is to produce a win-win situation, as Gerens will become part of one of the most well-regarded firms worldwide in the construction consultancy area while Hill will benefit from Gerens experience and privileged access to new and important business areas both in Europe and Latin America.” In addition to maintaining his current position with Gerens, Albaladejo has also been named a Senior Vice President with Hill.

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