Kier has sold Mouchel Consulting to WSP Global for £75 million.
Mouchel Consulting, acquired in June 2015 as part of Kier’s acquisition of Mouchel, provides engineering, environmental and asset management consultancy services, principally to infrastructure markets.
Earlier this year Kier announced that it was looking for buyers. The sale of the business is expected to result in an immediate profit of approximately £40m, subject to post-completion adjustments..
Haydn Mursell, chief executive of Kier, commented: “Having completed the integration of Mouchel, we are well progressed with the simplification of our portfolio of businesses. The disposal of Mouchel Consulting continues this process and provides increased capital to focus on the opportunities across our core businesses which will underpin the group’s future growth.”