WYG Plc Acquisition (9297K)
January 06 2016 - 2:00AM
UK Regulatory
TIDMWYG
RNS Number : 9297K
WYG Plc
06 January 2016
06 January 2016
WYG plc
Acquisition of Signet Planning Limited
WYG plc (WYG), the global programme, project management and
technical consultancy, today announces the acquisition by its
subsidiary WYG Environment Planning Transport Limited, of the
entire issued share capital of SCA Planning Limited which trades
under the name of its subsidiary, Signet Planning Limited (Signet
Planning) for an enterprise value of GBP3,735,000, further
cementing WYG's position as a top three planning consultant in the
UK.
The acquisition is in line with WYG's strategy of growing
quality revenues both organically and through selective
acquisitions. For the year ended 31 March 2015, Signet Planning
reported turnover of GBP3.5 million, profit before taxation (and
after the remuneration of its owner-directors) of GBP0.7m, and net
assets of GBP1.3m.
Signet Planning is a fast growing town planning and urban design
consultancy. Established by Simon Chadwick, James Hobson and Ian
Rowe in 2005 in Harrogate with five employees initially, Signet
Planning has since opened offices in Newcastle and London in 2007,
in Nottingham in 2008 and in Manchester in 2015 growing to become a
37-strong team. It is well positioned to achieve further growth,
especially in the London commercial development market, the
residential sector generally, and through opportunities driven by
the UK government's Northern Powerhouse agenda. Signet Planning's
clients include: Quintain, Peveril Securities, Arena Racing, Story
Homes and JD Wetherspoon.
Of the total consideration for the acquisition, GBP3.5m is
payable in cash on completion with the balance due on the
anniversary of completion subject to the satisfactory collection of
book debts and work in progress. Simon Chadwick and three other
principal directors have agreed to lock-in provisions for the next
three years and have also entered into new employment agreements
with WYG Environment Planning Transport Limited.
Paul Hamer, Chief Executive Officer, WYG commented:
"We are delighted to be joined by Simon Chadwick, and his
colleagues in Signet Planning. We are confident that they will be a
significant enhancement to WYG's planning and urban and landscape
design capabilities.
"Following our recent acquisitions of Alliance Planning, FMW
Consultancy and North Associates, we now have more than 140
planning specialists representing the third largest team in the UK.
This leading market position leaves us well placed to take
advantage of the strong demand we expect for these specialist
skills within a buoyant UK market for property and infrastructure
development."
ENDS
WYG plc Tel: 0113 278 7111
Paul Hamer, Chief Executive Officer
Sean Cummins, Group Finance Director
MHP Communications Tel: 020 3128 8100
John Olsen / Katie Hunt / Ollie Hoare
N+1 Singer Tel: 020 7496 3000
Sandy Fraser / Nick Owen
WH Ireland Limited Tel: 020 7220 1666
Adrian Hadden / Liam Gribben
This information is provided by RNS
The company news service from the London Stock Exchange
END
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