Charles Lyons-Burt
Jacobs will transition to a new holding company identity on Aug. 29, marking another milestone in the company’s transformation efforts. The parent company of the technical professional services provider will be publicly listed on the New York Stock Exchange as Jacobs Solutions– a change from Jacobs Engineering Group.
The adoption of a new holding company structure is aimed at better reflecting Jacobs’ wide-reaching strategies and portfolio, which include not only engineering but also specialties in intelligence, infrastructure, cybersecurity and space, the Dallas, Texas-based company said Friday.
Absent operational or financial shifts and coming without a stockholder vote, the name change will allow all current stockholders to retain their current shares on a one-for-one basis. They will maintain identical share numbers and percentages as they held before when the holding company rebrands.
Additionally, the metamorphosis will be tax-free for all Jacobs affiliates with regard to U.S. federal income taxes.
In an Executive Spotlight interview with ExecutiveBiz in July, Jacobs Chief Financial Officer of Mission Critical Solutions Dawn Pinto described herself as “a big proponent of change” and indicated that the company’s brand update and recent market expansion was a prominent reason for joining the company in January.
“A lot of the people who know Jacobs are more familiar with our engineering and procurement work. We’re a very diverse company,” Pinto asserted.
In another July Executive Spotlight interview, Jacobs Vice President of Strategic Development John Karabias outlined a trio of growth accelerators that will be driving Jacobs’ activities and expansion over the next few years. The first is a focus on climate change; the second is the company’s investment in digital, cyber, health care and climate and energy organization PA Consulting; and the third is an emphasis on data solutions.
Jacobs instituted a new slogan and mission in December 2019 and began trading on the NYSE under the ticker symbol “J,” which will continue. This was also when the Jacobs Solutions name was first introduced, but it has not been officiated until now.
