Hyder plc has sold Hyder Consulting Group Limited (“Hyder Consulting”) to its management. The equity will be shared amongst the seventy senior managers of Hyder Consulting. They include all members of the board and of the company's professional college, comprising all the group's global technical and professional directors. The management team was advised during their negotiations by Arthur Andersen Corporate Finance.
Hyder Consulting’s core activities are in providing management consultancy services to the water, transportation, structures and telecoms industries. Clients range from local authorities, contractors and government agencies to large private sector companies such as Orange and Railtrack.
In the year to March 2000, Hyder Consulting achieved revenues of £119m, approximately 50 per cent of which was derived from within the UK and the the group's international offices in the Middle East, the Far East, Australia and Europe.
Tim Wade, chairman and chief executive of Hyder Consulting, said; “All our major markets are either booming or entering periods of upturn. With a strong balance sheet, the depth of talent already within the company and an enviable legacy in terms of global infrastructure, we believe that we are poised for considerable success.”
Robert Symons, chief executive of Western Power Distribution, which previously owned the business, said: “We are delighted to announce this deal, which not only brings more certainty to the staff at Hyder Consulting, but also enables the company to take control of its own future.”