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AYH recommemds £21m offer

The board of London-based consultant AYH has recommended an offer by Dutch consulting giant Arcadis to acquire the entire firm for up to £21 million.
Arcadis will pay £16 million on completion of the deal and an earn-out worth up £5 million, based on its performance. AYH employs 340 people and turns over around £25 million a year.

Arcadis director Michiel Jaski said: 'The acquisition of AYH will strengthen our overall project and cost management capability in the buildings sector globally, while at the same time providing a strong position in the UK market.'

The deal is expected to be completed by June 30.

AYH specialises in project management, cost control and consultancy services in retail, commercial industrial and public sector work .It has offices in London, Birmingham, Leeds, Manchester, Glasgow and Edinburgh, France and Poland.

Arcadis employs 10,000 worldwide and has a turnover of approximately £607 million.

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