AMEC Acquires Entec
The acquisition has been made on a cash free/debt free basis and the consideration has been settled in cash. Further payments may be made, subject to retention and performance.
Entec has experience in the water services and wastewater sector. It also provides renewable, nuclear and other energy services, industrial engineering, contaminated land and regeneration services, environmental planning and project management services.
The acquisition is fully aligned with AMEC's vision 2015 strategy of assured growth; Entec broadens the earth and environmental division's geographic footprint in Europe and it also strengthens its capabilities in the water and energy sectors. The acquisition is expected to be earnings enhancing immediately, and to meet its weighted average cost of capital in the first full year post acquisition.
Roger Jinks, president of earth and environmental division AMEC, said: “Acquiring Entec Holdings Ltd is another important step in our strategy of enhancing our water and environmental consulting capabilities internationally.”
Will AMEC benefit with the acquisition?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.