26 August 2004
International Expansion for White Young Green - Major acquisition secures new overseas business stream and consolidates environmental and engineering operational base.
White Young Green is pleased to announce that shareholder approval has been sought for the acquisition of IMC Consulting Ltd and IMC Europe Ltd, both previously part of IMC Group Holdings Ltd, a subsidiary of Rio Tinto.
These acquisitions represent a significant step forward in the evolutionary development of WYG and will achieve a step change in the size, skills balance, geographical coverage, critical mass and earnings potential of WYG.
IMC Consulting Ltd is a £29m turnover project management and consultancy business working primarily with governments and regional organisations on large scale, long term aid-funded social and economic regeneration projects designed to build capacity in countries in transition. Typical activities include project management in the fields of industrial and economic development, corporate restructuring and SME support, vocational training and outplacement, economic policy, public sector reform and social support programmes. The majority of these activities are performed from primary offices in the UK, Poland, Turkey, Romania and Russia. The services provided by IMC Consulting are therefore strategic in nature, fit at the very beginning of the asset life cycle and generally act as a stimulus for the development and improvement of the built and natural environment.
IMC Europe Ltd is a £4m turnover UK based engineering and environmental business operating out of Nottingham with a total staff complement of 80. This business will be fully integrated into WYG’s Environmental and Engineering business units on completion.
WYG Chief Executive, John Purvis, said:
“This acquisition represents a significant step forward in the development of WYG. IMC Consulting Ltd provides an international management services business stream which is profitable and growing. It is entirely complementary to our existing skill sets and geographic markets. In addition, IMC Europe’s engineering and environmental teams will work closely with WYG’s existing operations in the UK, creating synergies and increased cross-selling opportunities.
Through this acquisition the enlarged company should benefit from improved quality of earnings, increased margins and a more balanced portfolio of business across the planning, creating and operating stages of the asset life cycle.”