Dutch group acquires 100% shares in UK environment consultant
Dutch design and engineering firm Arcadis announced today that it has agreed terms to acquire 100% of the shares of the UK environmental consultant Vectra Group.
Vectra employs about 110 people and has gross revenues of over £10m.
The offer provides for a consideration of £6m. The selling party is Volvere, an investing company, which held the shares of Vectra since May 2003. The transaction is conditional upon approval from Volvere shareholders and is likely to be completed within the next three weeks.
Vectra provides health, safety, risk-management and other environmental consultancy services to predominantly clients in the oil, gas and nuclear industries and in the transportation sector. In the next few months, the company will be fully integrated into the existing environmental activities of Arcadis iin the UK.
The acquisition of Vectra brings the total number of Arcadis staff in the UK to over a 1000, with more than 300 in environment.
Michiel Jaski, a member of the Arcadis executive board, said: "Vectra strengthens our position in the UK environmental market and complements our client list with an additional number of large multinational firms".