7th Dec 2007 07:00
RPS Group PLC07 December 2007 RPS GROUP PLC("RPS" or "the Group") Acquisition of JD Consulting L.P. ("JDC") RPS announces the acquisition of JDC, a US based limited partnership providingenvironmental consultancy advice to blue chip clients in the energy and chemicalsectors (www.jdconsult.com). JDC was established in 1997 and provides consultancy services to the petroleumrefining industry, to renewable energy (particularly wind farm) projects, aswell as the power generation and chemical sectors. It is based in Texas, withoffices in Houston, Austin, Beaumont and Corpus Christi and undertakes projectsprimarily in Texas. The business will be integrated with RPS's existing business in the US. JDC'sskills and client base enables the RPS business in the US to expand into newparts of the energy sector, as well as other sectors. The founder, seniorpartner and majority shareholder of JDC, Robert Jones, is remaining with RPSfollowing the transaction. The other four vendors, all partners in JDC, are alsoremaining with RPS. In the year ended 31 December 2006 JDC had revenues of $11.18 million (£5.43million) and adjusted profit before tax of $1.94 million (£0.94 million) (havingnormalised the partners profit distributions). Net assets at 31 December 2006were $4.89 million ($2.37 million). RPS is acquiring certain assets and liabilities as well as the trade andgoodwill of JDC for a consideration of $11.12 million (£5.4 million), paid atcompletion in cash. Brook Land, Chairman of RPS commented: "The acquisition of JDC enables us to expand the range of services we offer inthe US. It begins the process of building upon our successful international oiland gas advisory business in order to create a multi-disciplinary business.Coupled with the acquisitions of Scotia and APA, both announced earlier thisyear, we have significantly increased our presence in North America during 2007. The Board expects these and other acquisitions made during the course of 2007,along with good organic growth, to enable RPS to announce another set of verysatisfactory results for the full year. We remain optimistic about prospectsfor the Group." 7 December 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. In order to assist in the reduction in the greenhouse gas emissions necessary toslow and eventually reverse global warming the staff of RPS have set themselvesthe task of reducing energy consumption by 5% each year using 2007 as the base.If successful we will halve our (per capita) energy use by 2020. 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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