Support services group makes acquisitions in highways, water and management consultancy
Mouchel Parkman has spent nearly 拢50m on three acquisitions.
The largest acquisition by the consulting was for highways services company Traffic Support Ltd for 拢26.3m. In the financial year ended 31 December 2005, TSL reported profits of 拢1.22m on revenues of 拢6.85m.
Mouchel Parkman has also bought Hornagold & Hills Partnership for 拢11.4m in cash and water consultant Ewan Group for 拢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 鈥淲e 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.
鈥淎ll 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.鈥�
