HFP Acoustical Consultants Corp, a Calgary-based provider of acoustics and noise control consulting services, has been bought for an undisclosed amount by SLR Management Ltd. SLR, a U.K.-based international environmental consultancy and portfolio company of British private equity firm 3i Group, at the same time bought the affiliated HFP Acoustical Consultants Inc of Houston, Texas. SLR said that the purchase of HFP, which has completed more than 5,800 acoustical engineering projects in 30 countries, brings technical expertise in industry sectors in which the company has a strong market position. 3i acquired a significant minority investment stake in SLR in 2008.
6 February 2014
SLR announces acquisition of HFP Acoustical Consultants – a leading acoustics and noise control consultancy in North America
3i backed SLR Management Ltd, the international environmental consultancy, today announces theGroup’s acquisition of HFP Acoustical Consultants Inc. in the US and HFP Acoustical Consultants Corp. in Canada. HFP provides acoustics and noise control consulting services to a broad range of clients across the energy, commercial & industry, planning & development, infrastructure, mining & minerals, and waste management sectors.
Founded in 1979, HFP has successfully completed more than 5,800 acoustical engineering projects in 30 countries on 6 continents and today employs 26 professionals across two offices in North America; Calgary (Alberta) and in Houston (Texas). For the full year ended 30th December 2013, HFP delivered an EBITDA of CAD$0.7m on revenue of CAD$4.6m.
HFP brings to the Group additional expertise in the specialist area of acoustics and noise control. SLR’s North American operations, headquartered near Seattle in the US and Vancouver in Canada, now has over 400 employees providing specialist environmental services across the region. Globally, SLR employs over 1,000 technical staff across 70 international offices.
Neil Penhall, Chief Executive of SLR, commenting on the acquisition, said:
“The acquisition of HFP brings additional technical expertise within many of the sectors where SLR has a strong market position, including industrial noise control consultancy for oil & gas facilities, pipelines, and power plants, as well as acoustics consultancy for architects and developers, including engineered audio-visual system designs. We, therefore, look forward to growing the business as part of the wider group by offering our combined existing client base, as well as new customers, the full breadth of our services globally.”
“Having successfully acquired GSS Environmental (Australia), Synergistics Environmental Services Limited (Africa) and Strategic Engineering & Sciences (US) in the last eighteen months, this acquisition represents a further milestone in the Group’s strategy of augmenting organic growth by the selective acquisition of high calibre companies to strengthen and extend its technical and geographic coverage.”
For further information, please contact:
SLR Management Limited 01225 309400
Neil Penhall, Chief Executive
020 3128 8100
Katie Hunt / Giles Robinson
About SLR Management
SLR is an international environmental consultancy, headquartered near Oxford in the UK, with a network of offices in Australia, Canada, Ireland, Namibia, Singapore, South Africa, the UK and USA. With more than 1,000 highly specialist employees, the Group provides advice and support on a wide range of strategic and site-specific issues to a diverse and growing base of corporate, regulatory and governmental clients.
The Group has a blue-chip client base across its key sectors which include energy and mining where its clients include all of the major international operators. SLR is also the leading consultant to the private sector waste management industry in the UK and undertakes a significant amount of planning and environmental impact assessment work for major commercial developers.
SLR’s core markets of energy, natural resource and waste management have been relatively stable during the global financial crisis, and the Group, backed by 3i (which has a minority holding), Lloyds Banking Group and HSBC, has successfully delivered on its strategy of acquiring resilient, high quality businesses which are poised to grow. SLR is an employee controlled consultancy, with over 500 employee share and option holders.
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