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WYG up for sale

Consulting engineer WYG has put up the for sale sign, saying it is currently too small to “service” its pipeline of opportunities.

The firm has announced a strategic review of its operations that could result in it being it taken over or merged with another business.

WYG has appointed merchant bank Lazard & Co find potential suitors.

In a statement, it said: “WYG is enjoying strong growth in its project pipeline and is creating almost more opportunities than it can readily service directly using its existing model of organic growth, supplemented by smaller bolt-on acquisitions and partnerships.

“Against this background, the board of WYG recognises that this strategic review may or may not conclude that, given its current relative scale, being part of a larger business or expanding the scale of its current operating platform would provide significant advantages and better position the company to take full advantage of its growth potential.

“At this stage, however, all options available to the company are being considered.”

The review will consider a range of options, including a strategic partnership, a merger or acquisition, a sale, a new or extended bank facility, or investment in the business to help organic growth and bolt-on acquisitions.

In December, WYG announced an interim loss of £416,000 on revenue of £63M, though chief executive Paul Hamer (pictured) described the results as “positive”.

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