KEY POINTS:
NZX-listed infrastructure company Opus International Consultants is continuing its global expansion with the purchase of
UK engineering consultancy Joynes Pike Group.
Opus will make an upfront payment of $10.7 million, with a conditional further payment of $1.49 million.
Chief executive Kevin Thompson said the acquisition was strategically important in developing Opus as a global consultancy business with operations in New Zealand, Australia, Canada and the UK.
"The businesses within the [Joynes Pike] group provide civil, geotechnical, traffic and transportation, and structural engineering along with land, building, and engineering surveying," Thompson said.
"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."
The acquisition would boost revenue at Opus by $26.4 million.
The deal increased Opus' UK workforce to 370 people and global operations to 80 offices, 11 laboratories and more than 2400 employees.
Shares closed up 2c yesterday at $1.45.
