Grontmij swoops for Ginger to create leading European engineering consultancy
GRONTMIJ, the engineering consultancy that has its UK and Ireland headquarters in Yorkshire, is to acquire one of France’s leading engineering group’s in the environmental planning sector.
The Dutch group, which has its head office in Leeds and 17 offices nationwide, has swooped for Ginger with the aim of creating a leading European engineering consultancy.
Grontmij has agreed to acquire 51.8% of the shares of Ginger and will launch a mandatory public offer of 28.20 Euros per share for all of the remaining outstanding shares of Ginger for a total consideration of 120m Euros.
The consultancy has secured certainty of funds from its relationship banks ING, The Royal Bank of Scotland and Nordea to finance the acquisition consideration of Ginger and the related transaction costs.
Grontmij said that the proposed transaction will create the fourth largest European engineering consultancy, with combined revenues of 1.1 bn Euros.
It is hoped the deal will boost the consultancy’s dominance as a leading player in Europe, with strong positions in its home markets including The Netherlands, France, Denmark, UK, Sweden, Germany, Belgium and Poland.
The acquisition will strengthen its position in France, one of the largest engineering markets in Europe, with an annual market size of around 10.6bn Euros – in which Ginger holds second place.
Grontmij said it will benefit from access Ginger’s international client base, including some of the largest construction, energy transportation and telecom companies in Europe, as well as government organisations.
Sylvo Thijsen, chief executive of Grontmij, said: “We are very pleased with the acquisition of Ginger, a partner that is fully committed to supporting Grontmij growth ambitions.
“The acquisition creates a formidable partnership of two leading engineering consultancy firms in Europe. Ginger has a strong and long-standing track record of profitable growth and a strong market position in France as well as an excellent client base and experienced management.”
He added: “With the acquisition of Ginger we further deliver on our strategy to become the leading European sustainable design, engineering and
management consultancy company for the built and natural environment. With the full dedication, knowledge and expertise of both Ginger and Grontmij we have great confidence in the future ahead.”
Jean-Luc Schnoebelen, chief executive of Ginger, said: “We are delighted to enter a new phase of development for our company with the acquisition by Grontmij. Grontmij and Ginger are a perfect match in terms of their geographical presence, service and expertise.
“We are convinced that the combination will create new and exciting business opportunities and provides true added value for all of our stakeholders.”
