Opus International Consultants, the New Zealand based, global infrastructure consultancy announced today that it has acquired the UK based engineering consultancy, Joynes Pike Group Ltd. This acquisition will add 170 staff and 9 offices and will bring the number of Opus employees in the UK to 370 operating from 17 offices spread throughout England and Wales.
In announcing the acquisition today, Opus Chief Executive and Managing Director, Dr Kevin Thompson said that the acquiring of the Joynes Pike Group is strategically important to the development of Opus as a global consultancy business, operating in New Zealand, the United Kingdom, Canada, and Australia. This will significantly increase Opus’ presence in the UK market place and provide the company with added strength and capability.
The Joynes Pike Group Ltd was purchased for an initial cash consideration of $NZ10.7m with a further conditional payment of $NZ1.49m. In a full year of operation this acquisition will increase the Company’s revenue by $NZ26.4m, EBITA by $NZ1.78m and Net Profit after tax by $NZ0.91m. Because the acquisition was concluded part way through 2008, and because of integration costs to be incurred, the increase in Opus’ net profit after tax in 2008 resulting from this acquisition will be $NZ0.21m.
“The Joynes Pike Group is well known for its geotechnical and environmental engineering,” says Dr Thompson. “The businesses within the group provide civil, geotechnical, traffic and transportation, and structural engineering along with land, building, and engineering surveying. The company was established over 28 years ago and is now one of the UK’s top 30 firms in both the surveying and geotechnical and environmental engineering sectors.
Like Opus they have a reputation for working closely with their clients and thoroughly understanding their needs. Like us they are well respected by their clients for providing innovative solutions for often complex problems.”
The Joynes Pike Group has its head office in Nottingham, and another eight regional offices, including subsidiary Structural Surveys Direct, in Nottingham, Birmingham, Doncaster, Milton Keynes, Stoke, Warrington, Wetherby and Shoreham. They work primarily in the commercial, retail, health, education, sports and industrial sectors and have been responsible for work associated with a number of sporting facilities, universities, hospitals, and rail stations.
“I am delighted that Joynes Pike have agreed to join us and become part of our global network,” says Dr Thompson. “Our existing operations in the UK, together with these ‘new’ offices will give us a greater geographical coverage and allow us to support the services of local authorities and contractors.”
Joynes Pike, Managing Director, John Pike, who will continue to be actively involved in managing the company in his new role as Regional Director, Midlands said he welcomed becoming part of the Opus team and that he saw the merger as a further development of their business.
“It will give us more opportunities and strengthen our position in the UK with greater access to resources by way of skills and additional specialist expertise provided by Opus,” he said. “Our involvement with Opus will allow us to continue using our own expertise while adding considerable value for our existing client base.”
The company will initially trade as Opus Joynes Pike Ltd and will work alongside the other 8 Opus offices already established in Bristol, Cardiff, Manchester, London, Fareham, Rossett, Nottingham and Stevenage. The Opus UK operation is led by Opus’ UK Director, Trevor Crawley, who is based in Bristol.
Last year Opus listed on the NZ Stock Exchange. Other recent acquisitions over the last 12 months made by Opus have included two consultancies in Australia. With this addition of Joynes Pike in the UK, Opus will now have 80 offices and 11 laboratories worldwide. Staff numbers will total over 2400.