Support services group makes acquisitions in highways, water and management consultancy
Mouchel Parkman has spent nearly £50m on three acquisitions.
The largest acquisition by the consulting engineer was for highways services company Traffic Support Ltd for £26.3m. In the financial year ended 31 December 2005, TSL reported profits of £1.22m on revenues of £6.85m.
Mouchel Parkman has also bought project manager Hornagold & Hills Partnership for £11.4m in cash and water consultant Ewan Group for £11m in cash and shares.
Mouchel Parkman said the acquisitions are expected to enhance earnings per share in the first full year of ownership.
Richard Cuthbert, chief executive of Mouchel Parkman, said “We are delighted to announce these three acquisitions which complement our existing positions in highways, water and management consulting. This is a very exciting day for the group.
“All three deals represent significant steps forward in our strategic development which, combined with our strong organic growth, put us firmly on course to meet the aspirations set out in our corporate plan.”
