Consultant expands its project management operations in eastern Europe with acquisition
Consultant Hill International has acquired Polish project management and consultant Euromost Polska.
The firm will continue to operate under its existing name and management team. UK consultant Jackson Coles is the principal selling shareholder.
Irvin E. Richter, Hill’s chair and chief executive officer, said: “We are very excited about expanding our European project management operations into Poland.”
With approximately 130 employees Euromost is headquartered in Warsaw and has additional offices in Krakow, Wroclaw and Gdynia.
It has managed the construction of major projects in various sectors, including, commercial, industrial, retail and residential projects.
The firm reported net revenues of around 5.5m, operating profit of £1.4m and net earnings of just over £1m in 2007.
Richard Jones, managing director at Jackson Coles, said: “After more than 15 years under our ownership, we are delighted that Hill will lead Euromost to the next stage of development and have no doubt that they will expand and enhance the substantial successes of the company,
“The transaction will furthermore enable Jackson Coles to focus on its premium position in the UK construction consultancy market.”
Terms of the transaction were not disclosed.