ABO-Group expands in the Netherlands
June 16 2016 - 8:19AM
Ghent, 16 June 2016 - 15.30 hrs - Press release /
regulated information
ABO-Group is
expanding its geotechnical activities through the acquisition of
Geomet, a Dutch expert in geotechnical advice and penetration
tests. This now confirms geotechnology as the Core
Business of ABO-Group in Europe.
In 2008, ABO-Group took its first
steps in the geotechnical market in the Netherlands with the
takeover of Goorbergh Geotechniek. Now comes a giant leap ahead
through the acquisition of Geomet, a geotechnical advice and
fieldwork agency with 20 employees based in Alphen aan den Rijn. By
combining forces, ABO-Group expects to be able to exploit market
opportunities in the Netherlands and beyond with greater strength.
Its strong references and Geomet's geotechnical expertise will
contribute towards the market offering of the ABO-Group
activities.
ABO-Group is deliberately opting
for the Dutch market. Following several crisis years, there have
been clear signs of recovery since 2015. Expectations are positive
for the next few years too. Frank De Palmenaer, CEO ABO-Group:
"Following several years of depression, the
revival is only now starting to be noticeable and so it is the
ideal time to strengthen our position in the Netherlands. This
acquisition enables us to expand our presence in the Netherlands
providing high-end geotechnical services. With the combined
expertise, in addition to fieldwork, we are now able to offer
geotechnical advice in the most complex of cases, just as we have
been able to in our two other home countries of Belgium and France
for some time now."
Geotechnology, which accounts for
approximately 50% of the consolidated group turnover, has already
represented a core activity for ABO-Group for years. In France, the
group active in geotechnology with approximately 100 employees,
spread across offices in Toulon, Marseilles, Nice, Montpellier,
Lyons, Paris, Nancy and Lille. In Belgium, the geotechnical
activities are performed under the brand name Geosonda through
offices in Ghent, Aartselaar, Brussels, Hasselt and NamĂȘche.
At the financial level, in the
2015 financial year, Geomet achieved a consolidated turnover of 2.6
million euro and an operating cash flow (EBITDA) of 380,000 euro.
The acquisition sum is 1.4 million euro, including takeover of 1
million euro in financial debts from the bank. Besides the
operational working companies, the acquisition also comprises the
business premises. The transaction is subject to reserve of
rounding off, predicted for early July. No significant impact is
expected on the first six months' results.
ABO-Group divides its geotechnical
activities into, on the one hand, Consultancy
& Engineering (= advice) and, on the other, Testing & Monitoring (= fieldwork). The advice part
is accommodated with Geomet. The geotechnical field work of Geomet
and Goorbergh Geotechniek (subsidiary of ABO-Group) is centralised
and will be named Geosonda. The environmental and archaeological
fieldwork remains the domain of Sialtech. In the areas of advice
and fieldwork, these subsidiary companies of ABO-Group will combine
forces in order to optimise their service provision.
The acquisition facilitates further collaboration and
cross-pollination between the geotechnical companies in France,
Belgium and the Netherlands. Geomet's strong knowledge and
quality-driven corporate culture fits in closely with the ABO-Group
style. Geotechnical knowledge will be further shared and used in
all domestic markets so that customers are able to call on a
broader palette of high-grade services. An additional benefit is
that geotechnology is not bound by local legislation, so that it is
easy to collaborate across borders.
WHat is
geotechnOLOGY?
Geotechnology is the study of the soil, with the aim of mapping the
bearing strength of the subsoil in order to be able to determine
the correct foundation technique and then build in and on the soil.
This activity forms one of the spearheads of ABO-Group, having
accumulated a great expertise both in hard rocky soils (e.g.
France), and in soft soils (Belgium/Netherlands). Various work
teams and experts work daily on soil-mechanical land surveys by
means of soundings and with the advice about foundation techniques
and soil mechanics.
ABOUT
ABO-Group
ABO-Group is a collection of integrated Engineering & Testing undertakings operating in
soil, the environment, geotechnology, energy and waste management.
ABO-Group has the ambition to make its sales larger through
internal growth and acquisitions and to expand its palette of
activities inside and outside Europe. For a more comprehensive
description of the group's activities, please refer to the stock
exchange listing document of ABO-Group, issued on 31 July 2014 and
available on the ABO-Group website (www.abo-group.eu).
For mORE information:
Frank De
Palmenaer
Johan Reybroeck
CEO ABO-Group Environment
NV
CFO ABO-Group Environment NV
frank.depalmenaer@abo-group.eu
johan.reybroeck@abo-group.eu
T +32 (0)496 59 88 99
Derbystraat 255, Maaltecenter Blok G, B-9051 Ghent
(SDW), Belgium
This press release is available on our website
www.abo-group.eu
ABO expands in the
Netherlands
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ABO-Group via Globenewswire
HUG#2021247
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