14 May 2012 |
Press release - Grontmij sells Trett Consulting to Driver Group Plc
Grontmij N.V. announces that it has sold its UK dispute resolution and contractual advice consultancy, Trett Consulting (Trett), to Driver Group Plc. As announced in the Q1 2012 press release and discussed at the annual General Meeting of Shareholders on 9 May 2012, Trett was classified as held for sale, pending its intended divestment.
Trett's services are considered as non-core to Grontmij’s operations focused on the delivery of Engineering Consultancy services. The disposal will further facilitate Grontmij's focus on realising profitable organic growth.
In 2011, Trett’s revenues were about € 16.8 million (£ 14.0 million) while the company employs some 70 employees. In connection with the sale, Grontmij will receive a consideration of € 3.6 million. The transaction will lead to a book result of about nil.
John Chubb, Managing Director of Grontmij in the United Kingdom said: ‘Following the release of our 'Back on Track' strategy early this year, the disposal of Trett is another move in the restructuring work stream as we focus on our core markets and core capabilities. I believe that the acquisition by Driver of Trett is a good fit and that represents value to both companies.’
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Grontmij is the third largest engineering consultancy in Europe with nearly 9,000 professionals. At the heart of our business is the sustainability by design principle. It is a leading value proposition for our customers delivered by four business lines: Planning & Design, Transportation & Mobility, Water & Energy, Monitoring & Testing.Download the press release