London listed British multinational, Atkins, announced the acquisition of East Africa's consulting engineering firm Howard Humphreys.
Atkins expects the transaction to be done before the first half of the year is over, the acquisition is in line with the company’s expansion strategy further into the African market.
Howard Humphreys has been operating in East Africa since 1931 supporting clients, providing engineering consultancy and project management services in the transportation, water and property industry - the firm has also worked with Atkins on numerous occasions .
"If you look at the type of growth that Kenya is looking at, its vision into 2030 and the same into Tanzania and Ethiopia - there is huge opportunity for organisations like us to really support government and industry delivering the dreams of the nations,” said Simon Moon Middle East and Africa CEO of Atkins.
"I think Africa, particularly East Africa, represents a huge opportunity in that whole infrastructure and transport market.”
Howard Humphreys is a specialist in designing and project management and recently completed the new airport terminals in Nairobi and Dar es Salaam, geothermal power projects in Kenya and the designed and constructed an office tower in Nairobi.
“We’re extremely excited to become part of Atkins. The opportunities in East Africa are immense. As part of Atkins, our existing and new clients will have access to the full breadth of the group’s expertise, so there’s no limit to what we can achieve together,” said Kanwal Syan, Managing Director of Howard Humphreys.
Moon has very high hopes for the partnership based on Howard Humphreys’ annual turnover of about 12 million dollars.
"My Middle-East business has a turnover of some 300 million dollars, our Asia pack business has a turnover of some 150 million dollars, we are buying a business here for 12 million dollars - so you can see the type of expectations that we have got over the 5-10 year period in terms of growth.
He adds: “I'd be expecting double digit growth in Africa given the opportunities that we've got in terms of revenue.”