International consultant Arcadis has made a recommended offer to buy UK quantity surveyor and project manager AYH for £16m.

A statement issued by AYH last Friday confirmed that Arcadis had offered to buy its entire share capital.

The deal is expected to be finalised by the end of this month and includes an offer price of £16m with an earn out component that could reach a maximum of £5m.

AYH has a £25m turnover and employs 340 staff. Its most high-profile current job is the new Arsenal football stadium.

Arcadis, which has a turnover of more than £600m, has operations in continental Europe and America, and has 10,000 staff. It works in the building, infrastructure and environment sectors.

The two firms established a relationship when Arcadis bought AYH’s interest in Homola AYH, a German project manager, in 2003. This led to an alliance between the two organisations.

Peter Vince, AYH managing director, said the acquisition would enable AYH to enter a fresh stage in its development. He said: “We will continue to be run by the existing management team, with Arcadis providing strategic guidance and support to deliver the next phase of our planned group.”

Michiel Jaski, executive board member at Arcadis, said: “We are pleased to have formally submitted the offer. We consider the acquisition of AYH will strengthen our overall project and cost management capabilities in the buildings sector globally.”