Coffey paid a total of $2.2 million, consisting of $1.5 million cash and $0.7 million in shares in a transaction completed today. The company is wholly owned by founder Ian Webber.
Webber Associates is a specialist geotechnical design group primarily servicing the construction sector. The company, based in Knaresborough in Northern England, employs twelve staff plus a number of specialist consultants.
Coffey International Limited managing director Roger Olds said acquiring Webber Associates was part of Coffey Geotechnics’ intent to rapidly grow its range of services offered in the United Kingdom and longer-term pursue work more widely in Europe and the Middle East.
Chief Executive Officer of Coffey Geotechnics Matt Thomas said that after a period consolidating the acquisition of EDGE Consulting, this was the next step to expand Coffey Geotechnics’ range of services in the United Kingdom.
“Webber Associates’ specialist geotechnical design skills complement our existing services and enable us to offer a greater range of services to our clients.
“Ian and his team are highly regarded for their practical geotechnical design abilities. They have a hard won reputation in the industry for providing innovative geotechnical design outcomes that are cost-effective,” Matt said.
In addition to geotechnical design on building and civil engineering projects, Webber Associates is skilled in the provision of complex problem solving and expert witness services to all parties in construction disputes.
Commenting on the sale, Ian Webber said: “I’m looking forward to being able to rapidly grow the business with the opportunities Coffey’s expertise and common systems bring. My team are looking forward to working with the EDGE team and also to becoming part of Coffey Geotechnics in the United Kingdom.”
EDGE Consulting was acquired by Coffey in October last year and will complete the transition to the Coffey Geotechnics brand this month.
Following this acquisition, Coffey Geotechnics has a total of 77 staff in the United Kingdom, in addition to 623 in Australia and 58 in New Zealand.
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About Coffey
Coffey International Limited aspires to improve the lives of world communities by providing physical and social infrastructure solutions to business, government and development assistance agencies.
Coffey has a market capitalisation of over A$400 million. It employs approximately 3,000 people. Coffey has approximately 50 offices in Australia, with permanent offices in the UAE, Indonesia, Vietnam, Papua New Guinea, the USA, the Philippines, South Africa, Ghana, Zambia, United Kingdom and New Zealand, and project offices spread throughout the world.
Coffey International Limited is listed on the Australian Stock Exchange and is part of the S&P ASX 300 and small companies’ indices.
Visit www.coffey.com for more information.
About Webber Associates
Webber Associates was founded 1997 by director and sole shareholder Mr Ian Webber and employs twelve staff. The company provides innovative, practical geotechnical design in building and civil engineering projects. Its services span all stages of the project, from planning through to detailed investigation, design and commissioning. The company also provides problem solving and expert witness services to all parties in construction disputes.
Note to editors
Roger Olds and Matt Thomas are available for interview. To arrange please contact:
Josephine Marriage at Mendleson Communication on (+61) (3) 9827 0422, +61 408 366 378, josephine@mendleson.co.au
or Diana Krause, Communications Manager, Coffey International Limited, on (+61) (3) 9473 1405, +61 420 959 942, diana_krause@coffey.com.
