15th Mar 2007 10:23
RPS Group PLC15 March 2007 RPS GROUP PLC ("RPS" or "the Group") Acquisition of the business of Safety and Risk Practice Pty Ltd ("SARP") RPS announces the acquisition of SARP a leading health and safety businessproviding consulting services to the oil and gas industry in Australia and SEAsia. SARP was established in 1999 and provides health, safety and training servicesto the oil and gas and mining industries. It is based in Perth, WesternAustralia, and undertakes projects on an international basis for many of themajor oil and gas companies. These services fit well with the range of servicesthat RPS currently offers its clients in Australia and SE Asia. The SARPmanagement team and staff are remaining with RPS and the business will beintegrated with RPS Energy's existing business in Perth. In the year ended 30 June 2006 SARP had revenues of A$4 million (£1.6 million)and profit before tax of A$0.9 million (£0.4 million). Net assets at 28 February2007 were A$1.1 million (£0.45 million). RPS is acquiring the assets and certain liabilities of SARP together with itsgoodwill, for a maximum total consideration of A$4.6 million (£1.9 million). A$3million (£1.2 million) was paid in cash at completion. A further A$1.2 million(£0.5 million) in cash will be paid on the first anniversary and a further A$0.4million (£0.2 million) in cash on the second anniversary of the transaction,subject to certain operational conditions being met. Alan Hearne, Chief Executive of RPS commented: "We see an excellent opportunity to expand our energy business in Australia andSE Asia; SARP will extend our growing footprint and reputation in that region. "Providing advice to oil and gas companies in relation to health and safetyissues continues to be a growing activity for us. The acquisition of SARP is atimely extension of in our capability in this market and complements earlieracquisitions in the sector." 15 March 2007 RPS is an international consultancy providing advice upon the development ofnatural resources, land and property, the management of the environment and thehealth and safety of people. We trade in the UK, Ireland, the Netherlands,North America and Australia and undertake projects in many other parts of theworld. ENQUIRIES RPS Group plcDr Alan Hearne, Chief Executive Tel: 01235 863 206 College HillJustine Warren Tel: 020 7457 2020 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RPS.L