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RPS Group buys Aquaterra of Australia for up to A$13.7 mln

Published: 07:58 28 May 2010 BST

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RPS Group PLC (LSE: RPS) said it has acquired Aquaterra Consulting Pty Ltd, an international water resource and environmental consultancy, for a maximum A$13.7 million.   

Founded 12 years ago Aquaterra has about 90 staff and operates primarily in Australia, from its headquarters in Perth and offices in Adelaide and Sydney.  It is also active in the UK serving similar markets as RPS’s existing water resources business and will complement its activities. 

In Australia Aquaterra provides support to the natural resources and mining sectors, which face increasingly challenging water resource and environmental issues.  Some of Aquaterra's clients undertake projects internationally; this has enabled Aquaterra to broaden its geographic base, a trend which RPS can help develop further.

In the year ended 31 March 2010 Aquaterra had revenues of A$18.2 million and pretax profit before A$2.49 million.  Net assets at 31 March 2010 were A$4.9 million.

RPS is acquiring the entire share capital of Aquaterra for cash.  It paid A$7.0 million on completion and, subject to certain operational conditions being met, will pay two further sums of A$3.5 million and A$3.2 million will be paid on the first and second anniversaries of the transaction.  The vendors of the business are its two executive directors and 20 other staff, all of whom are remaining with RPS.

RPS chief executive Alan Hearne commented: "The acquisition of Aquaterra further develops our ... environmental business in Australia.  Operating where water resource and environmental issues overlap with the exploration and production of natural resources means it is well positioned at the forefront of issues of strategic importance to the Australian economy.  RPS will provide it with further opportunities in both Australia and internationally."

RPS is an international consultancy providing advice on the development of natural resources, land and property, the management of the natural and built environments and the health and safety of people.  The company has offices in the UK, Ireland, the Netherlands, North America and Australia/Asia Pacific and undertakes projects in many other parts of the world. 

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