Firm expands German business with acquisition of waste water and transportation consultant
Hyder Consulting has confirmed a deal with German firm Voigt Ingenieure Beteiligungsgesellschaft to acquire its water, waste water and transportation subsidiary Voigt Ingenieure for 拢5.6m.
The acquisition involves the takeover of 75 staff from the Berlin, Karlsruhe and Luckau offices.
Tim Wade, Hyder chief executive, said: 鈥淭his is a step in achieving our objective for increased scale in Germany and will provide complementary skills to our existing operations in this growing market.鈥�
The deal is scheduled for completion on 29 November.
Voigt Ingenieure registered a revenue of 拢5.2m last year, with 拢0.8m profits.
News of the acquisition comes a day after Hyder announced a 12% revenue increase to 拢108.7m for a half year period ending 30 September 2007.
Sir Alan Thomas, chairman, said: 鈥淚 am pleased to report that our half year results are well ahead of last year's and slightly ahead of expectations.鈥�
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