Troubled consultant Grontmij has sold its UK dispute resolution and contractual advice consultancy, Trett Consulting, to Driver Group.
Grontmij had only bought the dispute resolution firm in April 2008.
But the struggling consultant has decided to scale back its operations and focus on engineering consultancy. It told shareholders at its AGM last week that Trett was classified as held for sale, pending its intended divestment.
“Following the release of our ‘Back on Track’ strategy early this year, the disposal of Trett is another move in the restructuring work stream as we focus on our core markets and core capabilities,” said Grontmij UK MD John Chubb. “I believe that the acquisition by Driver of Trett is a good fit and that represents value to both companies.”
In 2011, Trett’s revenues were about €16.8M (£14M) and the company employs some 70 employees. Grontmij will receive £2.9M from Driver Group for Trett.