Consultant hopes for boost in Irish market
White Young Green (WYG) has acquired PH McCarthy Consulting Engineers (PHMP) for 拢13.5m (鈧�19.5m).
The consultant paid 拢8.1m (鈧�11.7m) in cash for the Irish firm and 拢5.4m (鈧�7.8m) satisfied by a share issues.
Further consideration of up to 拢1.7m (鈧�2.5m) will be added if certain performance criteria are met in the first year of trading under WYG鈥檚 ownership.
Chief executive Lawrie Haynes said: 鈥淭he PH McCarthy team will give WYG Ireland a significant boost in accessing the strategically important public infrastructure development market both in Ireland and internationally. It also balances and complements the existing WYG Ireland Engineering business.鈥�
The directors of PHMP have signed contracts of employment with the WYG Group.
PHMP鈥檚 pre-tax profit for the year ending 30 April 2007 was 拢1.8m (鈧�2.5m) on turnover of 拢12.1m (鈧�17.6m).
PHMP specialises in large public infrastructure projects in the water and highway sectors. It operates from offices in Limerick and Dublin and employs 184 permanent staff.
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