alert

We're now Amec Foster Wheeler
Please visit our new website at amecfw.com

Utilities

AMEC to acquire specialist US environmental and geotechnical consultancy

04 June 2008


London, United Kingdom (4 June 2008) - AMEC plc, the international engineering and project management company, announces today that it has reached agreement to acquire Geomatrix Consultants, Inc. (Geomatrix) from its owner-managers for a total cash cost of £43.0 million (US$85.0 million). £32.3 million (US$63.75 million) will be paid at closing with the balance, after any post-closing adjustments, to be paid over the next two years.

Geomatrix is a diversified technical consulting and engineering firm headquartered in Oakland, California. The company employs some 500 engineers, scientists and other professionals in 18 offices across the United States and one office in Canada. Geomatrix offers specialist environmental, geotechnical and water resources services to clients in sectors such as oil and gas, industrial, mining and municipal.

The purchase is consistent with AMEC's strategy of geographic and capacity expansion in the Earth and Environmental business and follows the acquisition of six smaller environmental consultancy businesses since January 2007.

Samir Brikho, AMEC Chief Executive said: "With services from environmental impact assessments to remediation, Earth and Environmental is an important differentiator in AMEC's portfolio of services. Geomatrix will significantly enhance our geographic coverage and our ability to provide customers with high value consultancy services."

Roger Jinks, President of AMEC's Earth and Environmental division added: "This acquisition not only strengthens our presence in the United States, but adds significant depth to our consulting talent in the environmental remediation, seismic and groundwater services growth markets."

Anthony Daus, President of Geomatrix said: "We are pleased to be joining AMEC and being part of this growing and dynamic organisation. This will allow us to better serve our clients nationally and internationally and provides excellent technical and professional opportunities for our staff."

Closing is anticipated later in June.

- Ends -

 



Return to topTop