Energy industry consultant Ichron sold for £12.5m
ICHRON, a Cheshire firm that provides analytical services to the oil and gas sector, has been bought for £12.5m.
The firm, based on the Gadbrook Business Centre in Northwich, has been sold by four shareholders to Oxfordshire-based environmental consultancy RPS Group in a cash deal.
Established in 1995, Ichron was owned by Stuart Gowland, Andrew Taylor, Nicholas Holmes and Andrew Alderson who have all chosen to stay on.
It has 46 permanent and part-time staff and works on projects in Europe, Africa and the Middle East. Its specialist services include reservoir geology, biostratigraphy and chemical stratigraphy.
RPS said the deal will give it with further capability in its oil and gas consultancy markets. In the year to December 2012, Ichron had revenues of £6.3m and a profit before tax of £2.1m, after adjustment for non-recurring items. Net assets at December 2012 were £1.1m.
RPS chief executive Alan Hearne said: “Ichron has an excellent reputation and track record. Its skills will add to our existing capabilities in growing specialist areas and provide us with a platform for further growth. Other acquisition opportunities we are working on are also progressing positively.”
