Arcadis NV (ARCAD), the largest Dutch designer of dikes that last week forecast 2012 profit from operations would rise 20 to 25 percent, acquired Brazil’s biggest water engineering and consultancy company.
The company said it bought ETEP Consultoria, Gerenciamento e Servicos Ltda. to expand in the Brazilian water market. No terms were disclosed for the purchase of Sao Paulo-based ETEP, which Arcadis said earns 83 percent of its revenue from water supply, water treatment and wastewater “in the fast-developing Brazilian water market.”
Water makes up 15 percent of Arcadis’s gross revenue, it said last week when the Amsterdam-based company reported order intake was strong in the second quarter, especially in the U.S. Arcadis shares have climbed 33 percent over the past year.
ETEP has 300 employees and an annual net revenue of 16 million euros ($20 million), Arcadis said today in a website statement. It acquired the shares from management, “who will all stay with the business,” Arcadis said.
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