Member Article

Leeds consultancy firm RPS acquires Australian counterpart for £17 million

Leeds-based consultancy RPS has announced the acquisition of Point Project Management Pty Ltd, an Australian project management consultancy, for a maximum consideration of £17.6 million (AU$31.0 million)

Founded in 2006, Point is headquartered in Canberra and has offices in 7 other major Australian cities. The company, which employs over 130 permanent staff, works primarily on projects to deliver new developments for its clients, from inception, through planning and design, to completed construction.

It provides these services to the defence, transport, residential, retail, health and commercial property development industries.

The two director/vendors of the business are remaining with RPS, along with all other staff.

In the year to 30 June 2014, Point had revenues of AU$32.5 million (£18.5 million) and profit before tax of AU$6.2 million (£3.6 million), after adjustment for non-recurring items. Net assets at 30 June 2014 were AU$1.6 million (£0.9 million). Gross assets at 30 June 2014 were A$10.3 million (£5.9 million).

Alan Hearne, chief executive of RPS, commented: “Point has an excellent reputation and track record, particularly in the Australian defence sector. Its skills will complement the services RPS currently provides in Australia and enable us further to rebalance our business towards the non-resources parts of the economy.

“We anticipate Point will add to AAP profit in the second half of 2014 and make a significant contribution in 2015. The 2014 contribution is likely to be tempered at Group level by the reduced activity we are seeing in our Energy business in the Middle East as a result of political unrest in Kurdistan/Iraq.”

This was posted in Bdaily's Members' News section by Clare Burnett .