Firm expands German business with acquisition of waste water and transportation consultant
Hyder Consulting has confirmed a deal with German firm Voigt Ingenieure Beteiligungsgesellschaft to acquire its water, waste water and transportation subsidiary Voigt Ingenieure for £5.6m.
The acquisition involves the takeover of 75 staff from the Berlin, Karlsruhe and Luckau offices.
Tim Wade, Hyder chief executive, said: “This is a step in achieving our objective for increased scale in Germany and will provide complementary skills to our existing operations in this growing market.”
The deal is scheduled for completion on 29 November.
Voigt Ingenieure registered a revenue of £5.2m last year, with £0.8m profits.
News of the acquisition comes a day after Hyder announced a 12% revenue increase to £108.7m for a half year period ending 30 September 2007.
Sir Alan Thomas, chairman, said: “I am pleased to report that our half year results are well ahead of last year's and slightly ahead of expectations.”