Engineering and project management group AMEC has acquired a Brisbane-based consulting, engineering and technical services business to expand its Environment and Infrastructure service offering in Australia.
Unidel, the 260-person company which provides environmental and infrastructure services similar to those of AMEC, was purchased for an initial cash consideration of A$27m (£16.9m). A further A$14m may be paid over three years but is subject to future profit targets.
The company said that the transaction is expected to create "significant opportunities" for growth, widening the range of services to existing and new clients in Australia.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This acquisition is fully aligned with our Vision 2015 strategy and builds our presence in Australia to some 1,500 employees" said AMEC's Chief Operating Officer Neil Bruce.
AMEC's Vision 2015 strategy looks to strengthen its geographic footprint and enhance capabilities in key sectors.
"Importantly, it also expands our capabilities in one of our key growth regions and allows us to serve better our customers in the oil and gas, minerals and metals and clean energy markets," Bruce said.
BC
-
8 of the best properties for sale with equestrian facilitiesThe best properties for sale with equestrian facilities – from a Georgian manor in Ceredigion, Wales, to a period farmhouse with an equine swimming pool in Banbury, Oxfordshire
-
Energy bills to rise by 1.2% in January 2025Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
