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WorleyParsons is pleased to announce the acquisition of Sydney based Patterson Britton and
Partners and Brisbane based John Wilson and Partners in a move that will significantly enhance its water and environmental capability.
Patterson Britton and Partners, and John Wilson and Partners are regarded as two of the leading consultants in the water and environmental services market in Australia with specific capabilities in the coastal and marine, water resources and wastewater, environmental, civil and structural and power markets.
Combined the two organisations employ approximately 300 staff with estimated annual revenue in 2007 of approximately $42.0m and EBIT of $7.2m. Consideration on settlement of the acquisitions is $32.5m representing an approximate EBIT multiple of 4.5 times 2007 earnings.
This acquisition is part of WorleyParsons’ global strategy to build the infrastructure business which has included earlier acquisitions of BRW and TMG in Australia, and Komex in Canada. This will build the East coast infrastructure capability to a scale that balances and compliments the operations in the West, establishing a very strong ANZ infrastructure platform well positioned to deliver to customers throughout Australia and beyond.
The effective date for the acquisitions is 1 July 2007.
WorleyParsons’ Chief Executive Officer Mr John Grill said:
“We are delighted to welcome the staff of Patterson Britton and Partners, and John Wilson and Partners to WorleyParsons. The combination of these two businesses will provide a significant step up in our ability to support our clients across all our industry sectors in the areas of water and environmental services.
Integrating environmental planning into all our projects is becoming an increasing focus and we are looking forward to the additional skills and insights these well respected organisations will bring to our existing capabilities in this area.”
