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Multi-disciplined consultancy practice RPS Group plc has completed its third acquisition in the space of a week. The acquisition of Oceanfix International Limited (OIL) follows the purchases of engineering consultancies RWG and WTW Associates on 13 and 18 March respectively.

OIL comes with a £6.5 million price tag, to be satisfied in cash, £3.9 million of which will be paid on completion with the balance due in two equal parts, in March 2009 and 2010.

Following completion, the founder and managing director will remain with RPS. OIL will remain in Aberdeen and be integrated with RPS’s Energy business.

Established in 1981, OIL is a global provider of hydrographic and geophysical survey consultancy services to the oil and gas exploration and production sector from its base in Aberdeen. In the year ended 31 January 2008, the business had revenues of £10.6 million, profit before tax of £1.25 million and net assets at £1.96 million.

Brook Land, chairman of RPS, commented: “Since our move into the energy sector in 2003, we have built a world-class business. At a time when the price of, and demand for, oil and gas has increased dramatically we have adapted to fast-changing conditions. The addition of the survey skills of Oceanfix supports and expands our service offering.”

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