Hyder Consulting says purchase of Marcus Hodges Environment will enable it to extend range of services.
Hyder Consulting has completed the acquisition of environmental engineer Marcus Hodges Environment in a deal worth up to £2.5m.
International consultancy Hyder will pay a minimum of £1.8m in cash and £50,000 in new shares for the company, with up to a further £0.65m payable over the next three years according to profit performance.
Marcus Hodges Environment provides specialist services in environmental and strategic planning, and contaminated land assessment and design. The company is based in south-west England, where its client portfolio includes the Environment Agency and Wessex Water. Turnover in the financial year to 31 March 2004 was approximately £2.0 million.
The deal is Hyder Consulting’s second recent acquisition in the UK environmental sector, following the £0.5m purchase of Ashact in July. Hyder Chief Executive Tim Wade said: “I am delighted to announce this transaction, which will give us access to new public and private sector clients and enhance the range of services we can offer”.
