ARCADIS Acquires U.K. Project Management Firm |
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ARCADIS
Nieuwe Stationsstraat 10 6811 KS
6800 LE Arnhem, Netherlands
Press release date: August 13, 2007
ARNHEM, The Netherlands, August 13/ -- ARCADIS (EURONEXT: ARCAD), the international consultancy and engineering company, announced today that it has acquired 100% of the shares of the APS Group Companies APS Project Management Ltd and APS Cost Management Ltd in the U.K. and 70% of APS Gulf FZ LLC in Dubai. Overall, APS group employs approximately 70 people and has gross revenues of over GBP 9 million.
The transaction is expected to be immediately accretive to earnings per share. Further financial details were not disclosed.
APS specializes in project management, cost control and consultancy services for real estate and property development for private clients. The company focuses on Commercial, Residential, Retail, Leisure, Telecommunications and Financial sectors. APS currently has an extensive portfolio of building projects under its management. The company is primarily active in the U.K. market and has offices in London and Bristol. The firm also has offices in Dubai, which is the operational base for APS Gulf.
"The acquisition of APS further reinforces our presence in the U.K. project management market and establishes a base in the Middle East." says Michiel Jaski, member of the Executive Board of ARCADIS. "The acquisition of APS through AYH plc, our U.K. operation, is an ongoing development of our strategy to transition our activities in the buildings segment to higher added value services. APS will strengthen ARCADIS Worldwide Project Consulting that enables us to support our clients in managing their global property portfolios and development plans."
"This transaction represents an excellent structure for APS to maximize the growth opportunities the business is currently experiencing. In addition it will also increase the opportunities for our management and staff to develop within a truly global organization." says Eric Wallace, chairman of APS Group. "Our clients will benefit significantly, as with the combined strength of AYH and ARCADIS, we will be able to offer project management and consultancy services on a global basis through ARCADIS Worldwide Project Consulting".
ARCADIS is an international company providing consultancy, engineering and management services in infrastructure, environment and facilities, to enhance mobility, sustainability and quality of life. ARCADIS develops, designs, implements, maintains and operates projects for companies and governments. With more than 12,000 employees and over EUR1.4 billion in gross revenue, the company has an extensive international network that is supported by strong local market positions.
Visit us on the internet: http://www.arcadis-global.com
Source: ARCADIS NV
For more information contact: Joost Slooten of ARCADIS at +31-26-3778604 or e-mail at jslooten@arcadis.nl.
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