Arcadis acquires water company in Brazil
Dutch international engineer Arcadis (EURONEXT: ARCAD) announced that it has acquired ETEP Consultoria, Gerenciamento e Serviços Ltda. (ETEP), the largest water engineering and consultancy company in Brazil. ETEP has 300 employees and annual gross revenues of approximately R$ 50 million (€ 20 million) and net revenues of R$40 million (€16 million). Arcadis has acquired the shares from management who will all stay with the business. ETEP has a track record of strong growth in the attractive Brazilian water market and produces margins above 10%. Further financial details were not disclosed.
ETEP, headquartered in Sao Paulo was established in 1966 as an infrastructure company (still 17% of revenues), but has since developed into a highly specialized company in water supply, water treatment and wastewater (83% of revenues). The company provides program and project management as well as engineering, consultancy and related services. ETEP works for public clients including water companies and municipalities, but also works with private sector clients such as contractors and industrial firms. ARCADIS has successfully worked together with ETEP on projects in the past. Combined with ARCADIS Logos, we will be the undisputed leader in the fast developing Brazilian water market.
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