RPS announces the acquisition of JDC, a US based limited partnership providing environmental consultancy advice to blue chip clients in the energy and chemical sectors.
was established in 1997 and provides consultancy services to the petroleum refining industry, to renewable energy (particularly wind farm) projects, as well as the power generation and chemical sectors. It is based in Texas, with offices in Houston, Austin, Beaumont and Corpus Christi and undertakes projects primarily in Texas.
The business will be integrated with RPS' existing business in the US. JDC's skills and client base enables the RPS business in the US to expand into new parts of the energy sector, as well as other sectors. The founder, senior partner and majority shareholder of JDC, Robert Jones, is remaining with RPS following the transaction. The other four vendors, all partners in JDC, are also remaining with RPS.
In the year ended 31 December 2006 JDC had revenues of $11.18 million (£5.43 million) and adjusted profit before tax of $1.94 million (£0.94 million) (having normalised the partners profit distributions). Net assets at 31 December 2006 were $4.89 million ($2.37 million).
RPS is acquiring certain assets and liabilities as well as the trade and goodwill of JDC for a consideration of $11.12 million (£5.4 million), paid at completion in cash. Brook Land, Chairman of RPS commented:
"The acquisition of JDC enables us to expand the range of services we offer in the US. It begins the process of building upon our successful international oil and gas advisory business in order to create a multi-disciplinary business. Coupled with the acquisitions of Scotia and APA, both announced earlier this year, we have significantly increased our presence in North America during 2007.
The Board expects these and other acquisitions made during the course of 2007, along with good organic growth, to enable RPS to announce another set of very satisfactory results for the full year. We remain optimistic about prospects for the Group."