RPS announces the acquisition of SARP a leading health and safety business providing consulting services to the oil and gas industry in Australia and SE Asia.
SARP was established in 1999 and provides health, safety and training services to the oil and gas and mining industries. It is based in Perth, Western Australia, and undertakes projects on an international basis for many of the major oil and gas companies. These services fit well with the range of services that RPS currently offers its clients in Australia and SE Asia. The SARP management team and staff are remaining with RPS and the business will be integrated with RPS Energy’s existing business in Perth.
In the year ended 30 June 2006 SARP had revenues of A$4 million (£1.6 million) and profit before tax of A$0.9 million (£0.4 million). Net assets at 28 February 2007 were A$1.1 million (£0.45 million).
RPS is acquiring the assets and certain liabilities of SARP together with its goodwill, for a maximum total consideration of A$4.6 million (£1.9 million). A$3 million (£1.2 million) was paid in cash at completion. A further A$1.2 million (£0.5 million) in cash will be paid on the first anniversary and a further A$0.4 million (£0.2 million) in cash on the second anniversary of the transaction, subject to certain operational conditions being met.
Alan Hearne, Chief Executive of RPS commented:
“We see an excellent opportunity to expand our energy business in Australia and SE Asia; SARP will extend our growing footprint and reputation in that region.
"Providing advice to oil and gas companies in relation to health and safety issues continues to be a growing activity for us. The acquisition of SARP is a timely extension of in our capability in this market and complements earlier acquisitions in the sector.”
15 March 2007
RPS is an international consultancy providing advice upon the development of natural resources, land and property, the management of the environment and the health and safety of people. We trade in the UK, Ireland, the Netherlands, North America and Australia and undertake projects in many other parts of the world.