Thursday 24th July 2008
Scott Wilson builds bridges with Benaim
Scott Wilson, a UK-based engineering consultancy, has expanded its business with the acquisition of civil engineering specialist Benaim Enterprise. The deal is worth £5.5 million, of which some £2.9 million will be paid in cash on completion with £900,000 due at a later date.
The vendors will also receive loan notes worth £1.65 million, which will be converted into ordinary shares 18 months following completion.
Geoff French, executive chairman of Scott Wilson, says this is the company's second acquisition in line with its strategy of enhancing its built environment operations. He adds, 'In addition to its strong geotechnical and civil skills, and the benefits these bring for the metro market, Benaim also brings considerable expertise in major bridges for road and rail.'
Scott Wilson and Benaim have worked together on previous projects, such as the East London Line and Malaysia’s KLIA Express Rail Link.
Founded in 1980, Benaim lists the Taiwan High Speed Rail Project, Macau’s Venetian Casino and Kincardine Bridge in Scotland as examples of its work. It reported a £1.1 million pre-tax profit on revenues of £5.56 million in the year to October 2007.
London-based Scott Wilson has more than 6,000 employees in 80 offices across the UK, Asia, the Middle East, Eastern Europe and Southern Africa.
Mark Dunne
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