Acquisitive environmental consultancy RPS Group (LSE: RPS.L – news) has boosted its coverage of the oil and gas sector with the purchase of Aberdeen-based consultant Oceanfix International.
RPS is paying £6.5m in cash for Oceanfix, a company which provides hydrographic and geophysical survey consultancy services. The founder and managing director of Oceanfix is remaining with RPS after the sale, as will the rest of Oceanfix’s staff.
In the year to 31 January 2008 Oceanfix had revenues of £10.6m and pre-tax profit of £1.25m. Net assets stood at £1.96m.
RPS said that its trading performance in the early months of 2008 has been good and it remains encouraged by its acquisition pipeline.