Multi-disciplinary consultant aims to boost transport business by buying Boreham for up to £9.64m
The sum includes £4.94m due at the completion of the deal, with up to a further £4.7m dependent on future performance. Completion of the deal is conditional on shareholder approval.
Boreham specialises in transport planning, development control and transport studies, traffic engineering and infrastructure design consultancy services. For the year to 31 March 2006 Boreham’s turnover was £9.9m and pre-tax profit was £2.2m.
Waterman said the acquisition would strengthen its position in the transport planning and engineering sector, and said there was the potential to grow Boreham’s regional offices.
Managing director Bob Campbell said: “'The key features of Waterman Group's strategy are to diversify further the range of services offered to clients, to cross sell its range of services throughout its client base and to expand its regional areas of operations."
“Boreham scores highly in each of these areas and we are delighted to welcome this high quality, specialist transport and traffic consultancy team to the Waterman Group.”