A company with offices in Bristol has bought up one of the world’s largest specialist engineering and environmental consultancies to become a multi-million pound powerhouse.
Engineering, environment and design consultancy Sweco UK, on All Saint’s Street in the city, snapped up MLM Group, which has an office near Temple Meads, for an undisclosed sum.
The deal creates a combined business with an annual turnover of £108 million and 1,340 employees across 26 offices in the UK and Ireland.
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The move comes four years after Sweco, which was founded in Stockholm, entered the UK market with the acquisition of engineering consultancy Grontmij.
Max Joy, president of Sweco UK, said: “This acquisition marks the start of an exciting new chapter in our UK growth story.
“The combination of Sweco and MLM Group’s expertise in transport, buildings and environmental engineering will enhance our value proposition to customers while opening up new opportunities in key markets.”
Sweco has annual sales of approximately 1.8 billion euros and the company is listed on Nasdaq Stockholm.
Meanwhile, MLM Group employs 460 people and has an annual revenue of approximately £40million. The company was founded in 1966 and has 13 offices in the UK alone.
Max added: “Our businesses have a strong cultural fit, and we remain focused on being the most approachable and committed partner to our clients, while driving sustainability across the built environment.”
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Steve Oliver, chairman at MLM Group, said: “We’re proud of the achievements our business has made in its long history and this deal accelerates our long-term growth ambitions by becoming part of a leading, global consultancy whose values mirror our own.
Sweco employs 15,500 people across Europe and delivers projects in 70 countries annually across the world.
Sweco was advised by a team from the Leeds office of global law firm Squire Patton Boggs, led by corporate partner Paul Mann and senior associate Louise Parker.
The Leeds office of EY, led by Mark Allcroft, provided financial and tax due diligence to Sweco.
