Centreville, Va. — In late February, Parsons announced the relocation of the company’s corporate headquarters from Pasadena, Calif., to the Washington, D.C., capital region, specifically to the company’s existing facility in Centreville, Va. The announcement followed a decade of strategic actions, including acquisitions and internal investments, focused on growth in the defense, intelligence, and critical infrastructure markets.
In addition, Reuters recently reported that Parsons filed paperwork confidentially with the U.S. Securities and Exchange Commission for an initial public offering that could launch in April or May (https://www.reuters.com/article/us-parsons-ipo-exclusive/exclusive-airport-builder-parsons-plans-ipo-valuing-it-around-3-billion-sources-idUSKCN1QO2C7). The company has not commented on a possible IPO.
Commenting on the headquarters relocation, Chuck Harrington, Chairman and CEO of Parsons, said, “Parsons’ position as a world leader in defense, intelligence and critical infrastructure is the result of more than seven decades of strategic planning and investment. Our strategic actions over the past 10 years, including acquisitions, have led to the Washington metropolitan area having Parsons’ largest concentration of employees worldwide. The move of our corporate headquarters to the Washington area will support this concentration of employees in the region.”
The Washington capital region is headquarters for many of Parsons largest customers in the defense and intelligence markets and is the epicenter for legislative and policy actions related to critical infrastructure. “Relocating to the Washington region puts us in closer proximity to many of our existing and potential clients, as well as key decision makers who influence policy and funding initiatives across our markets, particularly critical infrastructure” said Harrington. “Proximity to these influencers increases Parsons’ opportunities to advance our Enhance-Extend-Transform growth strategy and capitalize on our current momentum. Simply said, being in Northern Virginia gives us more opportunities to be in the right places, at the right times, with the right people driving the future of our markets.”
Parsons will maintain the company’s strong presence in California, with over 1300 employees located in the state and remains committed to serving California-based clients.