Arcadis to acquire AYH

Global firm Arcadis has made a recommended offer to buy UK firm AYH for £16m, it emerged today.

A statement released by AYH this afternoon confirmed the offer to buy all of AYH's share capital. The deal is expected to be finalised by the end of this month and includes an offer price of £16m with an earn out component that can reach a maximum of £5m. AYH has a turnover of £25m and employs a staff of 340 - its most high profile current job is the new Arsenal stadium.

Arcadis, which has a turnover of over £600m, has operations in Continental Europe as well as America and has a workforce of 10,000. It works in the building, infrastructure and environment sectors. The two firms began a relationship when Arcadis bought AYH's interest in Homola AYH, a German project manager, in 2003. This resulted in a the formation of an alliance between the two organisations.

Michiel Jaski, executive board member at Arcdis, said: We are please to have formally submitted the offer. We consider the acquisition of AYH will strengthen our overall project and cost management capabilities in the buildings sector globally."

AYH managing director Peter Vince said the acquisition would enable AYH to enter a new stage in its development. He said: "We will continue to be run by the existing managment team with Arcadus providing strategic guidance and support to deliver the next phase of our planned group."

For more in depth coverage of the deal see QS News' next edition on 10 June.