The acquisition has been made on a cash free/debt free basis and the consideration has been settled in cash.
Amec said that the acquisition is aligned with its Vision 2015 strategy of assured growth. According to the company, Entec broadens the Earth & Environmental division’s geographic footprint in Europe and it also strengthens its capabilities in the water and energy sectors.
The acquisition is expected to be earnings enhancing immediately, and to meet its weighted average cost of capital in the first full year post acquisition.
Roger Jinks, president of Amec’s Earth & Environmental division, said: “Acquiring Entec Holdings is another important step in our strategy of enhancing our water and environmental consulting capabilities internationally.”
Elaine Moore, executive vice president Europe and UK at Amec Earth & Environmental, added: “The addition of Entec’s high quality people significantly enhances our position in the water sector around the world. The acquisition also supports Amec’s goal of strengthening the Earth & Environmental division’s footprint in Europe.”
