Urban design company bought up by WYG in £3.75m deal
A SUBSIDIARY of Leeds project management consultancy WYG has snapped up an urban design and town planning business for £3.75m.
Harrogate-based SCA Planning, which trades under Signet Planning was acquired by WYG Environment Planning Transport. £3.5m is payable in cash
The company said it will “further cement” its position as a top three planning UK planning consultancy.
For the year ended 31 March 2015, Signet Planning reported turnover of £3.5m, and pretax profits of £700,000 with reported net assets of £1.3m.
Signet Planning was established by Simon Chadwick, James Hobson and Ian Rowe (who have entered into employment agreements with WYG) in 2005 in Harrogate with five employees initially.
Since then, Signet has opened offices in Newcastle and London, Nottingham and Manchester and now has a team of 37.
Last year, WYG acquired Carlisle-based North Associates and its subsidiary Taylor & Hardy for £5.0m and the company is looking for further strategic acquisitions after a £25m funding package was agreed.
The Leeds-based firm reported revenues of £129m compared to £127m for the year ending 31 March 2015. Pretax profits including adjusted items decreased from £1.78m last year to £1.56m.
Paul Hamer, chief executive officer, WYG commented:”We are delighted to be joined by Simon Chadwick, and his colleagues in Signet Planning. We are confident that they will be a significant enhancement to WYG’s planning and urban and landscape design capabilities.
“Following our recent acquisitions of Alliance Planning, FMW Consultancy and North Associates, we now have more than 140 planning specialists representing the third largest team in the UK.”
