Parsons Acquires Williams Electric Company
We are pleased to announce that we have acquired Williams Electric Company, Inc. (Williams Electric), a privately held company specializing in control system integration, electrical and general contracting, and energy infrastructure solutions. The company’s customers include a wide range of U.S. federal government customers (most notably the Department of Defense) with both domestic and international sites.
PASADENA, CA (October 10, 2017) – Parsons today announced the acquisition of Williams Electric Company, a privately owned, value-added company specializing in control system integration, electrical and general contracting, and energy infrastructure solutions. Williams Electric is headquartered in Ft. Walton Beach, FL, with company offices in Virginia and Maryland and employees located at more than 100 customer sites in the United States and abroad. The company’s customers include numerous Department of Defense organizations and a wide range of other U.S. government agencies and organizations.
“This acquisition should be viewed as the latest investment within Parsons’ strategy to grow our leadership position in protecting critical infrastructure assets from threats targeting connected operational technologies, including control systems,” said Chuck Harrington, Parsons Chairman and CEO. “Operational technology (OT) is the new IT in terms of where cyber threats are accessing the connected enterprise. Our strategy is simple—integrate our growing control system leadership with Parsons’ unmatched cyber capabilities to fulfill our promise of unique, converged OT protection for critical infrastructure assets.”
Williams Electric and Parsons share several significant customer relationships within the U.S. government, including the U.S. Army Corps of Engineers as well as numerous classified customer engagements. Parsons is projecting significant U.S. and international growth of its control system business following the Williams Electric acquisition.
“Parsons’ existing contractual relationships with numerous customers within the Departments of Defense, Energy, and Veterans Affairs and elsewhere are ideal environments for our now expanded control system offering,” said Carey Smith, President of Parsons’ Federal business unit. “And, certainly in regions such as the Middle East where Parsons has been a tier-one player for decades, Williams Electric will bring new opportunities on both sides of the acquisition.”
Within the broader OT sector, the control system market alone is a $50 billion market and projected to have a compound annual growth rate of more than 10% in the next 5 years. Forward-leaning initiatives such as “smart cities,” next-generation automation of manufacturing, and government-mandated cyber standards for critical infrastructure assets will all rely on innovative control system technologies.
“Parsons intends to become the name synonymous with fully converged protection of control systems,” said Smith. “Connectivity and the Internet of Things are both necessary and the origin of the evolving threat to critical infrastructure. At the control system level, whether it’s a networked surveillance or smart HVAC system, we intend to stay ahead of the threat curve.”
“Joining forces with Parsons was the right strategic move for both companies,” said Dan Rucker, President of Williams Electric Company. “The market for converged critical infrastructure protection technology is evolving quickly, and the integration of our two companies creates a single-source end-to-end solutions provider for integrated physical and cyber protection solutions.”Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit Parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.