SOURCE: Audubon Companies

Audubon Companies

December 09, 2015 14:00 ET

Audubon Companies Announces Agreement to Sell Cimation to Accenture

METAIRIE, LA--(Marketwired - December 09, 2015) - Audubon Companies, a global provider of EPCM services, today announced an agreement to sell its majority ownership in Cimation, an affiliate of Audubon Companies, to Accenture. Under the terms of the agreement, clients will continue to have access to Cimation's process automation, information technology and industrial control system (ICS) cyber security solutions as the companies maintain a relationship to ensure seamless service for existing clients.

"It has been an honor to watch Cimation grow from just ten people in 2009 to today's robust business with strong future prospects for continued growth," said Lee Beckett, Managing Partner and Chief Executive Officer of Audubon Companies. "Our clients can be assured that the high level of service they have come to expect from Audubon Companies and the full suite of innovative and flexible project solutions will not change. In fact, the proceeds from the sale will allow us to continue to invest in growth opportunities that further expand our diverse set of offerings."

As part of the transaction, Cimation's approximately 200 employees are expected to join the Accenture Asset and Operations Services group.

Terms of the transaction were not disclosed. Simmons & Company International acted as exclusive financial advisor to Cimation and Audubon Companies. Baldwin Haspel Burke & Mayer served as legal representatives to Cimation and Audubon Companies.

About Audubon Companies
Audubon Companies is a global provider of EPCM services for the oil & gas, petrochemical, refining, pipeline, and power generation markets. Equipped with experience and talent, Audubon Companies' four affiliates -- Audubon Engineering Solutions, Audubon Field Solutions, Cimation, and Affinity -- deliver innovative and flexible solutions for repeatable project success -- safely, on-schedule, and within budget. For more information, visit www.auduboncompanies.com.

About Cimation
Cimation, an affiliate of Audubon Companies, is an operations consulting company delivering secure technology solutions to the global energy and chemicals industries. As a vendor-agnostic firm, Cimation has executed thousands of reliable consulting, system integration and engineering projects that combine automation, industrial IT, enterprise data and ICS cyber security solutions. Armed with diverse project experience, process knowledge and technical expertise, Cimation's global team improves its clients' operations by engineering and integrating industrial technology that impacts safety and efficiency. Recent awards include: Inc.5000, Forbes most promising companies, Houston Business Journal (HBJ) Fast Tech 50 and HBJ Fast 100. For more information, visit www.cimation.com.

About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions -- underpinned by the world's largest delivery network -- Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With more than 358,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

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