Partners Robin Adams, Hanif Kara and Albert Williamson-Taylor sell consultant and move to WYG
The deal sees Robin Adams, Hanif Kara and Albert Williamson-Taylor moving to WYG, which recently acquired project manager Trench Farrow for £4.5m.
WYG announced that a further £4m could be paid if certain performance criteria were met in the first year of trading under WYG’s ownership.
Adams Kara Taylor had a profit of £1.99m for the year ended 30 June 2006 on a turnover of £7.84m. Gross assets at 30 June 2006 were £4,789,949. WYG will pay £7.5m in and £3m with the issue of 784,419 shares.
Commenting on the acquisition chief executive John Purvis said: “I am delighted that Adams Kara Taylor has joined the WYG Group.”
“Their reputation for excellence and higher value, cutting edge engineering will further strengthen our position in the strategically important London and export markets. They will bring a new blue chip client base to the overall Group and will significantly strengthen our own growing profile in the international arena.”