WYG "considering all options" as it plans for growth

PROJECT management consultancy WYG has launched a strategic review that may result in the company being sold as it considers its options for growth.

The listed company has now formally entered an “offer period” as it decides on its next steps, which it said could include “a potential corporate transaction, such as a strategic partnership, a merger or acquisition to enhance the scale and breadth of WYG’s platform, the acquisition of or subscription for the company’s securities by a third party, a sale of the company, a new or extended bank facility or continuing to invest in expanding the business organically and through partnerships and bolt-on acquisitions”.

The Leeds-based company, which last month announced first-half operating profits of £2.1m on revenues of £63.2m, has said it is “now well established as a leading global consultancy with a strong international development capability…and is now well positioned for future growth”.

In a statement to the stock market, it added: “WYG is enjoying strong growth in its project pipeline and is creating almost more opportunities than it can readily service directly using its existing model of organic growth, supplemented by smaller bolt-on acquisitions and partnerships.
 
“Against this background, the board of WYG recognises that this strategic review may or may not conclude that, given its current relative scale, being part of a larger business or expanding the scale of its current operating platform would provide significant advantages and better position the company to take full advantage of its growth potential. At this stage, however, all options available to the company are being considered.”