We have advised on the £43m recommended takeover of London Stock Exchange listed Waterman Group Plc by Tokyo Stock Exchange listed business CTI Engineering Co. Limited.
The team advised CTI Engineering’s financial adviser; wealth management and corporate and institutional broking firm, WH Ireland.
CTI is one of Japan’s major consulting engineering companies, and Waterman Group, an engineering and environmental consultancy, has been listed on the London Stock Exchange’s Main Market since 1988 with offices throughout the UK, including Birmingham, Leeds, Manchester and Nottingham. Waterman Group has worked on high-profile projects such as Trinity Leeds, Victoria Gate Leeds and Battersea Power Station.
The purchase was CTI’s first acquisition outside of Japan and gives CTI a significant presence in the UK, one of the world’s leading centres for consulting engineering services. The acquisition fits with CTI’s strategy to build organically through acquisitions and through developing overseas markets to expand its private sector client base.
The Gateley team included Corporate partner Paul Cliff.