Engineering firm expands in the Middle East with purchase of Dubai architect
Engineering firm Hyder Consulting has acquired architectural and design practice Holford & Associates.
Hyder’s Middle Eastern business has taken over the Dubai-based company for £9.2m.
Tim Wade, Hyder chief executive, said: "The acquisition reinforces our position in the region as a leading provider of advisory and design services to both property developers and world-renowned concept architects.”
The acquisition will see Hyder’s Middle Eastern team grow by 220 staff, bringing the total up to 1,500 in the region.
Three of Holford’s vendor partners, David James Tripney, Saeed Al Jabri and Colin Thomas Wood, will remain with the company, while two others, Ed Bain and Robert Fernandez, will retire upon completion of the takeover.
The firm's turnover last year was approximately £8.2m, with pre-tax profits of £2.5m.