Atkins acquires Singapore based project management business
WS Atkins plc ('Atkins' or 'the Group') has acquired Confluence Project Management Pte. Ltd. ('Confluence'), a project management business with operations in Asia Pacific, the Middle East and India, for a debt-free cash consideration of £8.4m.
Confluence is an international consultancy offering services in the areas of project and construction management, and specialist programming and planning. In the year to 30 June 2013 the company, which employs around 200 people, reported revenue of around £14.5m.
The business' teams in Singapore, Hong Kong, Abu Dhabi and India will integrate with Atkins' existing operations in Asia Pacific and the Middle East. The acquisition complements well the Group's Faithful+Gould project and cost management consultancy business and, in particular, augments its presence in the commercial, retail and hospitality sectors.
Prof Dr Uwe Krueger, chief executive officer, commented: "This acquisition is an important further step in the delivery of our strategy to increase our regional focus and grow our business in Asia Pacific and the Middle East. This business brings highly reputed client and sector knowledge and complementary regional presence and capacity to our existing project management business, as well as the ability to service increasingly complex projects for our global clients."