Engineer buys consultant Ferguson McIIveen for £10.1m as part of its expansion strategy
engineer Scott Wilson has bolstered its presence in Northern Ireland with the £10.1m acquisition of Northern Ireland consultant Ferguson McIlveen and is on the look out for more bolt ons.
The £14.5m-firm has offices in Belfast, Republic of Ireland, Glasgow, Chester, Guildford, Leeds, Middlesborough, and Swansea.
Chairman Geoff French told Building that the acquisition expands the group’s presence in Northern Ireland and increase its environmental and natural resources offering.
“We are continuing to look for acquisitions that expand our business either geographically or in the services we offer,” he said.
Scott Wilson has offered £3m in cash and £1.85m in Scott Wilson shares. In addition there is a deferred payment of £5.25m of which £4.07m is payable in cash and £1.18m in shares.
Geoff French, chairman of Scott Wilson, commented: “I am delighted that we have acquired Ferguson McIlveen LLP, which will significantly strengthen our presence in North and South Ireland and will enable us to take full advantage of the growing markets there, particularly in the environment and property sectors.”
The news came as Scott Wilson held its annual general meeting. French said market conditions were buoyant and the first five months of trading had been “inline with expectations”.
