Eric D. Colburn, PLS

RPS announces that it has entered into an agreement to acquire the entire share capital of Conics, a major planning, surveying and environmental consultancy headquartered in Brisbane, Australia for a maximum cash consideration of A$64.4 million (£31.3 million). The transaction is programmed to complete on 30 July 2009 following an extraordinary general meeting of the Conics shareholders. Virtually all Conics shareholders have already approved the transaction by signing the sale and purchase agreement.

The acquisition of Conics represents a significant step forward in the development of RPS’s strategy and its business in Australia. Our existing strength in Western Australia will be complemented by a business with considerable presence in Queensland, which will also assist us to create strong market positions in New South Wales and Victoria. The Australian economy remains strong relative to those of other developed nations around the world and has excellent links with many parts of Asia. Against this background, the combination of our existing businesses with Conics gives us a considerable platform from which to deliver growth.

Read the rest of this entry →