The UK’s biggest construction firm advanced plans to become a ‘one-stop-shop’ global infrastructure giant with a £380 million deal to buy a major US project manager.

Balfour Beatty, which has an office on Richard Street, Birmingham, hopes its acquisition of professional services firm Parsons Brinckerhoff will help it make further inroads into the US and boost its position in transport and power markets.

The firm said Parsons’ design, financing and project management skills would complement its own capabilities and offer its customers ‘integrated project services’.

Balfour is also banking on the deal to capitalise on higher infrastructure spending through the stimulus plans of several countries, as well as increased demand from emerging economies.

Parsons, which is owned entirely by its employees, has major clients in the UK including National Grid and has worked on projects including the Manchester Metro.

The group’s 4,750 shareholders will receive an average of £80,000 each through the deal.

Around 2,000 of its 12,650 staff are based in the UK, where it also has 12 offices including Glasgow, Taunton, Newcastle and Bristol.

Balfour Beatty is raising £353 million through a cash-call on shareholders to pay for the deal. Shares in the firm rose more than ten per cent at one stage, although the firm is still due to drop out of the FTSE 100 Index tomorrow.

Parsons, which was founded in 1885, boasted worldwide revenues of £1.4 billion in the year to October 31, 2008.

The business – the latest in a succession of US acquisitions in the past two years – will combine with Balfour’s existing consultancy arm to create a professional services division with around 14,000 staff.

Chief executive Ian Tyler said: “We believe it makes us one of the world’s major players in professional services, substantially strengthens our US presence and puts Balfour Beatty in an excellent position to take advantage of increased infrastructure spending.”

Balfour’s workload in the UK includes the widening of the M25 motorway and the building of the London Olympics Aquatic Centre.