OSLO: Oxfordshire-based RPS Group is set to acquire a project management and training services consultancy in Norway in a multimillion-pound deal.
Metier operates across Norway from its headquarters in Oslo. The company, which employs approximately 160 staff, was founded in 1976 and works primarily on projects associated with delivering public and private sector infrastructure.
Metier trades within similar markets to OEC, the Norwegian project management consultancy acquired by RPS in October 2013, with less focus on the oil and gas sector.
In the year to 31 December 2014, Metier had revenues of NOK390m (£32.6m) and pre-tax profits of NOK35.3m (£3m).
RPS is acquiring Metier for a maximum total sum of NOK267m (£22.3m), all payable in cash.
Consideration paid to the vendors at completion was NOK166.8m (£14m). Subject to certain operational conditions being met, two further sums of NOK49.2m (£4.1m) and NOK50.6m (£4.2m) will be paid to the vendors on the first and second anniversaries of the transaction respectively.
Meanwhile, RPS said in a trading update that its energy business has had a slower than expected start to the year due to the “continuing volatility” in the oil and gas sector.
