PHILADELPHIA, May 01, 2017 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it expects to complete the sale of its Construction Claims Group to Bridgepoint Development Capital, part of international private equity group Bridgepoint, in the near future. The Company had previously announced that the closing of the transaction was expected to occur on or about April 30, 2017. The parties are currently finalizing the negotiation of an amendment to the agreement that will facilitate the closing.
Hill International, with 4,300 professionals in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the eighth largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could
cause our actual results to differ materially from estimates or projections contained in our forward-looking statements include the possibility that various closing conditions for the sale of the Construction Claims Group may not be satisfied or waived, that the parties may not complete an amendment or the transaction, that there may be adverse effects or disruption from the sale that negatively impact Hill's remaining business or other risks as well as the other factors which are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
The Equity Group Inc.
Senior Vice President
Source: Hill International, Inc.
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