Engineering firm ESHER joins ABO-Group
October 06 2017 - 9:28AM
Ghent, 6 October 2017 - 3.00 p.m.
- Press Release / Regulated Information
Engineering firm
ESHER joins ABO-Group
ABO-Group
consolidates its market leadership position in soil and
environmental studies by acquiring ESHER bvba, a Belgian
engineering and consultancy firm in the area of environment and
sustainability, specializing in water and soil investigation,
environmental administration and quality systems. ESHER employs
around thirty people at three sites in Ghent, Brussels and
Roeselare.
ABO and ESHER, renowned soil remediation experts headquartered in
Ghent and operating in Flanders, Brussels and Wallonia, are joining
forces. The two firms reinforce each other and create synergies
that will benefit their operational services, clients and
staff.
Through this acquisition,
ABO-Group also strengthens its presence in West Flanders, where
direct relations with private and public-sector clients will be
further developed. Frank De Palmenaer, CEO ABO-Group: "I see various opportunities in the complementarity of our
services, which comes very much to the fore as we jointly focus on
complex soil and environmental studies."
The acquisition will give ESHER access to the
diversified services of ABO (asbestos research, archaeological
research, energy and BREEAM studies) and Geosonda (geotechnical,
archaeological and environmental fieldwork). Herman De Bruyne will
remain managing director of ESHER and at the same time be an active
member of the management team of ABO-Group: "This
association provides both horizontal and vertical career
opportunities for our staff. At the same time, ESHER's clients will
benefit from the multidisciplinary services offered by the
group."
ESHER reported €2.6 million
revenue in the 2016 financial year and an operating cash flow
(EBITDA) of €114k. The total acquisition price, including the
takeover of the financial debt, comes to €513k, paid in part with
ABO-Group shares. All the staff, accreditations and client
portfolio are acquired under this transaction. The closing is
expected by 1 December. No significant impact is expected on the
results of the current financial year.
about esher
ESHER is an engineering and
consultancy firm in the area of environment and sustainability,
specializing in water and soil investigation, environmental
administration and quality systems. ESHER is active in Flanders,
Brussels and Wallonia. ESHER was established in 1990 and, together
with ABO, belonged to the pioneers in the environment sector.
About
ABO-Group
ABO-Group is a group of integrated
consultancy, testing and monitoring firms, specializing in
construction, environment and energy. ABO-Group is active in its
three home countries (Belgium, the Netherlands and France) as well
as on the international market, and offers its customers a
sustainable solution.
A more detailed description of the
activities of the group and of ESHER can be found on the websites
of ABO-Group (www.abo-group.eu) and ESHER (www.esher.be).
For more
information, please contact:
ABO-Group Environment NV
esher bvba
Frank De Palmenaer
Herman De Bruyne
CFO ABO-Group Environment NV
Managing Director, ESHER bvba
frank.depalmenaer@abo-group.eu
herman@esher.be
T +32 (0)9 242 88
22
T +32 (0)9 265 86 86
This press release is available on
the websites www.abo-group.eu and www.esher.be.
Engineering firm Esher joins
ABO-Group
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ABO-Group via Globenewswire
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