AMEC acquires environmental engineering consultants Entec for £61.2m

AMEC acquires environmental engineering consultants Entec for £61.2m

International engineering and project management firm, AMEC (LSE: AMEC) has announced its acquisition of Newcastle-based environmental engineering consultancy Entec for an initial cash payment of£61.2 million. The FTSE100 constituent bought the Entec from investment company Growth Capital Partners on a cash free/debt free basis and further payments may be made, subject to Entec’s performance.

"Acquiring Entec Holdings Ltd is another important step in our strategy of enhancing our water and environmental consulting capabilities internationally", president of AMEC Earth & Environmental division, Roger Jinks, commented. According to AMEC, Entec has a strong position in the water services and wastewater sector, and the acquisition will strengthen AMEC's relationships with existing customers as well as provide access to new ones.

Entec will form part of AMEC’s Earth & Environmental division. The company believes the acquisition will be immediately earnings enhancing, and it is expected to meet its weighted average cost of capital in the first full year post acquisition.

Entec also provides renewable, nuclear and other energy services, industrial engineering, contaminated land and regeneration services, environmental planning and project management services. Its customers include government, utility and private sector companies. Entec currently has approximately 700 employees and 14 offices across the United Kingdom.

View full AMFW profile View Profile

Amec Foster Wheeler Timeline

Newswire
April 04 2013

Related Articles

1510769053_3U2A9699.jpg
November 15 2017
Record Q1 earnings, recent financing bring Atlas the financial heft to make multiple acquisitions

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © 2ndrangers.us, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.