The group, which expanded into Ireland with the acquisition of Moylan Engineering in July, said it wanted to add extra services such as facilities and environmental management.
Managing director Bob Campbell said: “We are hoping to offer a full range of services in every location, so we can improve our market share.” Campbell said Moylan would concentrate on the growth in residential and infrastructure work in the Republic of Ireland.
Campbell said conditions were good for a further growth in private finance initiative work in the UK. Waterman is currently working on two hospital and nine school PFI projects.
High profile work gained in the last year such as the £400m Birmingham Bull Ring scheme and the redevelopment of Paternoster Square in London led to a 13.8% increase in turnover to £33.7m for Waterman.
The group also improved pre-tax profit by 20% to £2.9m for the year to 30 June.