AMEC Plc, an international engineering and project management company, has acquired OEST Associates Inc from its owner-manager for US$9.5 million (£5.9 million).
AMEC Plc, an international engineering and project management company, has acquired OEST Associates Inc from its owner-manager for US$9.5 million (£5.9 million). A total of US$5 million was paid on completion, with the balance, after any post-closing adjustments, expected to be paid over the next three years.
OEST is a US engineering and architecture services business headquartered in Maine, with a satellite office near Orlando, Florida. The business has clients in the private and public sectors.
The deal is part of AMEC’s strategy to expand the geographic presence and capacity of its Earth and Environmental division,and follows eight other deals in this division since the start of 2007. Past deals include the 2005 acquisition of FAST Maintenance Informatique SA, a French IT management company with net assets of €3.2 million (£2.3 million), and the acquisition of NNC Holdings, the UK’s leading private sector nuclear services business for £25.3 million, also in 2005.
Roger Jinks, president of AMEC’s Earth and Environmental division, commented: “OEST is a great fit, geographically and strategically. It doubles AMEC’s presence in New England and provides facility design and architectural skills necessary for many Federal contracts.”