WSP Group, a management and consultancy provider to the built and natural environment, has acquired process-engineering firm CEL International for up to £22 million.
WSP Group, a management and consultancy provider to the built and natural environment, has acquired process-engineering firm CEL International for up to £22 million.
The purchase, the seventh for WSP since January, comprised an initial £18 million with a deferred consideration of £4 million in two equal tranches on the first and second anniversaries of completion.
WSP’s CEO, Chris Cole, said: “We are very pleased to have completed this transaction which brings to the group a new and important capability in the field of industrial process engineering and design.”
The pre-audited financial results of CEL for the nine months ended October 2007 show net revenue of some £21.2 million with an adjusted profit before tax of £2.4 million. The gross assets at that date amounted to some £18.0 million, including £5.4 million cash.
CEL provides management, engineering and environmental services to a blue chip client base in technology-orientated process and manufacturing industries. With headquarters in
