Scott Wilson Group plc
12 July 2007
For immediate release 12 July 2007
Scott Wilson Group plc
Acquisition of McLay Collier Supports Property Growth in Scotland
Scott Wilson Group plc ("Scott Wilson" or "the Group"), the international
consultancy offering integrated professional services in the transportation,
property, environment and natural resources sectors, today announces that it has
reached a conditional agreement to acquire the business of McLay Collier LLP for
a goodwill payment of £2.7m. The acquisition is expected to be completed on 25th
July 2007.
McLay Collier operates in the property sector in Central Scotland. It was formed
from two well-known local partnerships in 1992 and has a track record in
housing, retail, health, education and industrial sub-sectors providing services
in structural engineering. Based in Glasgow McLay Collier employs 30 technical
staff and four Partners.
The initial consideration payable on completion is £1.2m in cash. There is a
deferred consideration of £1.5m in total of which £1.0m is payable in cash and
£0.5m by the issue of Scott Wilson Group plc shares over a two year period. (In
addition the vendors will be paid for the net assets that will transfer to Scott
Wilson. This payment is expected to be £0.7m and will be settled through the
issue of £0.5m in Scott Wilson Group plc ordinary shares upon completion and
£0.2m in cash upon confirmation of the net asset value.)
McLay Collier LLP 's unaudited revenue for the year-ended April 2007 was £3.2m.
In the current financial year the business has continued to make good progress.
Geoff French, Chairman of Scott Wilson commented:
'I am delighted to announce today that we have acquired McLay Collier LLP. The
acquisition is a further step in line with our stated strategy to complement
organic growth and will also help to balance the sector portfolio of our
Scotland & Ireland Division. McLay Collier bring new resources and experience
to meet the Group's growing demand and will enhance our reputation in the
property sector in Central Scotland.'
For further information please contact:
Scott Wilson Group plc www.scottwilson.com
Geoff French, Chairman 01256 310 200
Stephen Kimmett, Finance Director 01256 310 200
Lak Siriwardene, Head of Communications 07824 311762
Financial Dynamics
Charlie Armitstead 020 7269 7291
Richard Mountain 020 7269 7291
Scott Wilson Group plc
Scott Wilson Group plc, with over 5500 members of staff, is an international
consultancy offering integrated professional services in the transportation,
property, environment and natural resources sectors.
The Group has doubled in size over the past few years and from its UK
headquarters currently controls a worldwide network of 80 offices, of which 40
are in the UK. The main international centres are located in China, Hong Kong,
India, SE Asia, the Middle East, Eastern Europe and Southern Africa.
Considerable progress has been made over the past year with a significant number
of high profile contract wins. These include the East London Line, Airdrie
Bathgate Rail Link, London Crossrail, Three Counties Alliance, Combe Down Mine
Stabilisation, Bahrain Islands Developments, and Greece Ionian Motorway.
Scott Wilson was awarded 'New Company of the Year' at the 2007 UK PLC Awards, '
Major Firm' at the 2007 NCE/ACE Consultants of the Year Awards, 'Best Investor
Relations for a New Issue' at the 2007 IR Magazine Awards, and 'IPO of the Year'
at the 2006 Shares Magazine Awards.
www.scottwilson.com
This information is provided by RNS
The company news service from the London Stock Exchange
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