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Consultant EC Harris to float on the stock exchange to raise funds for growth

Partners at consultant EC Harris have agreed to float the company on the stock exchange as part of an ambition to expand the firm.

They want the firm to be valued at £650M.

The board said the firm needed to grow quickly to meet the needs of clients. Clients are demanding better outcomes from improved programme and asset performance, it said. These demands are particularly strong in the areas of infrastructure development, oil and gas and are on an international scale.

As part of the strategy to fund its growth, the firm’s partners committed to plan for a flotation in 2013. 

“Our industry is going through a systemic change and the firms who take thez right steps now will benefit when the market returns,” said chief executive Philip Youell. “We believe that accelerating our growth plan is the right course of action for our business and will strengthen our ability to provide a service based on technical knowledge, commercialism and drive for outputs.”

“The European value of collaboration in delivery is an important dimension not always seen in the approach taken by large US engineering based organisations,” he added. “We aim to assemble the capacity to bring a broad range and deep pool of knowledge to programmes delivering better outputs.”

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