Acquisition

18th Mar 2008 07:02

RPS Group PLC18 March 2008 RPS GROUP PLC("RPS" or "the Group") Acquisition of WTW and Associates Ltd ("WTW") RPS announces the acquisition of WTW, a business providing technical services insupport of oil and gas exploration projects. WTW was established in 2002. From its base in the UK it provides geological andengineering consultancy services to major oil and gas companies on aninternational basis. The business is complementary to that currently operatedby RPS's existing energy business, particularly in respect of its work forNational Oil Companies and in the Middle East. It will be integrated with RPSEnergy and the managing director and staff are remaining with RPS. In the year ended 30 June 2007 WTW had revenues of £3.6 million and adjustedprofit before tax of £0.3 million (having normalised certain vendor costs). Netassets at 30 June 2007 were £0.5 million. RPS is acquiring the entire share capital of WTW, from six individual owners,for a total cash consideration of £1.85 million. £1.35 million was paid atcompletion. A further £0.5 million will be paid over the next two yearsprovided certain operational conditions are met. Alan Hearne, CEO of RPS commented: "Despite its relatively small size WTW has an excellent reputation. Access toRPS's additional resources and expertise will enable it to enhance theservice it offers its clients and grow into the next stage of its development ." 18 March 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 Exchange

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