ENVIRONMENTAL consultancy SLR will this morning announce two acquisitions, on the back of record results thanks to an increase in oil and gas work.
The consultancy, which is backed by private equity fund 3i, has acquired US-focused Strategic Engineering & Sciences and South Africa-based Synergistics Environmental Services in a transaction worth £8m combined.
SES, a provider of consulting services in mine waste and water resource management, turned over $5m (£3.3m) in 2012, SLR said today, while environmental consultancy Synergistics marks SLR’s fourth acquisition in Africa.
The acquisitions have pushed SLR into the position of one of the top three environmental consultants in South Africa, while expanding its footprint across the Americas. Over the year, 74 per cent of its revenues were earned outside of the UK.
Over the year, SLR posted record earnings before interest, tax and amortisation of £9.4m, up from £9.1m in 2011, thanks to an increase in work from oil and gas clients, as well as a boost from the mining sector. Revenues rose 11 per cent to £92.8m, up from £83.3m the previous year.
“The acquisitions of Synergistics and SES represent further milestones in our stated strategy of augmenting organic growth by the selective acquisition of high calibre companies to strengthen and extend our technical and geographic coverage,” chief executive David Richards said.