Canada’s WSP Global has bought Mouchel Consulting from British construction company Kier Group for around $93 million.
Kier only bought the business in June last year when it acquired the wider Mouchel portfolio for £265 million, and is set to make a £40 million profit on the sale which will help pay off outstanding debts.
Mouchel Consulting provides engineering, environmental and asset management consultancy services, principally to infrastructure markets. It is a healthy profit maker – for the year ending June 30 the company turned over £125 million, with pre-tax profits of £5 million. Gross assets sit in the region £29 million.
Kier chief executive Haydn Mursell said: “Having completed the integration of Mouchel, we are well progressed with the simplification of our portfolio of businesses. The disposal of Mouchel Consulting continues this process and provides increased capital to focus on the opportunities across our core businesses which will underpin the group's future growth.”
Mouchel has a wide presence in the UK and Ireland, with bases in Belfast in Northern Ireland, Dublin, Liverpool, Manchester, Woking, Birmingham, Bristol and Cambridge.