Acquisition
21 Dezember 2007 - 8:00AM
UK Regulatory
RNS Number:4554K
Hyder Consulting PLC
20 December 2007
HYDER CONSULTING PLC ("Hyder Consulting" or "the Company")
FURTHER GERMAN ACQUISITION
ACQUISITION OF SEIB INGENIEUR-CONSULT
Hyder Consulting is pleased to announce that its German business has entered
into an agreement to acquire SEIB Ingenieur-Consult GmbH & Co. KG ("SEIB
Ingenieur"), an advisory and design consultancy specialising in the rail and
highway sectors, operating throughout Germany and Austria.
The consideration for the acquisition amounts to �1.6 million payable in cash
and the assumption of �0.5 million of net bank debt of SEIB Ingenieur. SEIB
Ingenieur employs around 130 staff based in a number of offices in Germany and
Austria. Revenue for the year to 31 December 2006 was approximately �6.5
million, with profits before interest and tax of approximately �0.4 million.
The transaction involves the acquisition of Mr Hans Seib's interest as partner
in SEIB Ingenieur and the entire issued share capital of SEIB Verwaltungs GmbH,
the other partner in SEIB Ingenieur.
Tim Wade, Chief Executive of Hyder Consulting commented, "I am delighted to
announce the acquisition of SEIB Ingenieur which follows that of Voigt
Ingenieure announced on 27 November. This acquisition will help expand our
business in a growing German market, and combined with the recent Voigt
Ingenieure acquisition increases our revenue earning capacity outside the UK by
approximately 10%."
For further details:
Tim Wade, Chief Executive, Hyder Consulting PLC Tel: 020 7316 6000
Simon Hamilton-Eddy, Financial Director, Hyder Consulting PLC Tel: 020 7316 6000
Shane Dolan, Biddicks Tel: 020 7448 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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