7th Feb 2008 07:00
RPS Group PLC07 February 2008 RPS GROUP PLC ("RPS" or "the Group") Acquisition of Kraan Consulting Holding BV ("Kraan") RPS announces the acquisition of Kraan, a Rotterdam based consultancy providingurban estate management and environmental services advice to blue chip clientsin the Netherlands. Kraan was established in 1979 and employs 65 staff in Rotterdam. It providesconsultancy services which enable a wide range of companies and governmentagencies to manage their property occupation efficiently, cost effectively andby reducing energy use with the consequence of lessening their carbon footprint. The business will be integrated with RPS's existing business in the Netherlands. A number of RPS's current services are commissioned by Kraan Consulting andour mutual clients will have access to a more comprehensive service as a resultof this acquisition. It is anticipated that further services can be developedtogether and the operation expanded geographically throughout Holland. Theexecutives of Kraan and all staff have joined RPS and will be engaged in thecombined business going forward. In the year ended 31 December 2007, Kraan had revenues of Euro 7.1 million (£5.3million) and adjusted profit before tax of Euro 1.1 million (£0.82 million)(having normalised certain vendor costs). Net assets at 31 December 2007 wereEuro 1.1 million (£0.82 million). RPS is acquiring the entire share capital of Kraan, from four individual owners,for a maximum total cash consideration of Euro 6.5 million (£4.8 million). Euro4.0 million (£3.0 million) was paid at completion. Subject to certainoperational requirements being met, a further Euro 1.2 million (£0.9 million)will be paid on 1 March 2009 and Euro 1.3 million (£0.9 million) will be paid on1 March 2010. Brook Land, Chairman of RPS commented: "Our Dutch business traded well in 2007 and has encouraging prospects for 2008.The RPS board believes now is a good time to invest in what is a healthy andexpanding market. "Our acquisition pipeline remains strong and the RPS board anticipates that moreacquisitions will be completed in the coming months, further assisting theGroup's future growth." 7 February 2008 RPS is an international consultancy providing advice upon the development ofnatural resources, land and property, the management of the natural and builtenvironments and the health and safety of people. We trade in the UK, Ireland,the Netherlands, Poland, North America, South East Asia and Australia andundertake projects in many other parts of the world. ENQUIRIES RPS Group plcDr Alan Hearne, Chief Executive Tel: 01235 863 206Gary Young, Group Finance Director College HillJustine Warren Tel: 020 7457 2020Matthew Smallwood This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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