10th Apr 2014 09:12
LONDON (Alliance News) - RPS Group PLC Thursday said it has acquired UK-based wastewater consultancy Clear Environmental Consultants Ltd for up to GBP8.3 million, in a deal aimed at developing its European business.
In a statement, RPS said it has paid about GBP6.8 million in cash for Clear, with an additional amount of up to GBP1.50 million due no later than May 31, 2017, depending on some operational conditions being met.
"Clear has an excellent reputation and track record. Its skills will assist RPS penetrate further the growing wastewater market in the UK, as well as providing us with opportunities to offer a broader range of services to other clients," Alan Hearne, chief executive, said in a statement.
In its last financial year, which ended January 31, Clear had GBP5.6 million in revenue and a GBP1.8 million pretax profit after adjusting for certain non-recurring items.
Founded in 2003, Clear has offices in Derby, Sheffield and Glasgow in the UK. The company, which employs about 90 permanent staff, as well as utilising part time specialist associates, works primarily on projects for the UK water industry. Its services include urban pollution management, sewerage and river modelling, and ecology.
RPS shares were Thursday quoted at 328.40 pence, up 5.0%.
By Samuel Agini; [email protected]; @samuelagini
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