EnergySolutions Announces Sale of its Projects, Products and Technology Division to WS Atkins plc

SALT LAKE CITY, UT--(Marketwired - Nov 17, 2015) - EnergySolutions, Inc. today announced it has signed a definitive agreement for the sale of its Projects, Products and Technology business to WS Atkins plc, a UK listed design, engineering and project management consultancy company with operations around the world.

Atkins will pay $318 million for the PP&T business, which is comprised of EnergySolutions' North American government, Europe, and Asia businesses. Atkins will hire approximately 650 EnergySolutions employees pursuant to the agreement. EnergySolutions will retain its logistics, processing and disposal ("LP&D") business, its reactor decommissioning business, including current projects at Zion, IL and LaCrosse, WI, and its North American utility services, including liquid waste processing, fuel pool services, and other commercial projects.

"This transaction positions EnergySolutions to better serve the North American utilities market and pursue the growth opportunities in the decommissioning marketplace," said David Lockwood, President and CEO of EnergySolutions. "Focusing on transportation, logistics, processing and disposal enables EnergySolutions to better meet the waste disposition needs for the U.S. Department of Energy, U.S. Navy and commercial nuclear facilities," added Lockwood.

This transaction is subject to customary regulatory approvals and is expected to close in first quarter of 2016.

Morgan Joseph TriArtisan LLC is acting as financial advisor to EnergySolutions, Inc. in the sale.

EnergySolutions offers customers a full range of integrated services and solutions, including support of nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle.