Arcadis acquires full ownership of consultancy EC Harris

Arcadis, a design, consulting, engineering and management services company, has signed a merger agreement to acquire the full ownership of EC Harris, a built-asset consultancy headquartered in London that provides consulting and management services for the realisation and operation of buildings, manufacturing and processing plants and infrastructure facilities.

EC Harris’s gross revenues for its last financial year ending April 2011 were £254m, with net revenues of £222m and a normalised profitability of about seven per cent.

The company is owned by around 180 partners and currently employs around 2,600 people worldwide.

Arcadis will finance this merger by issuing three-million shares to current EC Harris partners, in addition to an undisclosed cash amount, drawing upon its existing credit facilities.