Driver Group (AIM:DRV) – E&P related contract win for new acquisition
The global construction consultancy has announced that newly acquired Trett Consulting has commenced work on a significant assignment – nice timing!
Trett’s Houston business has entered into a Consulting Services Agreement with one of the World’s largest independent oil and gas exploration and production companies – due to confidentiality no names unfortunately. The initial Agreement runs for 12 months and the overall involvement is expected to be in excess of 4 years. The first assignment under the Agreement is capped at a fee of approximately US$2m, with further assignments anticipated. The acquisition of Trett Consulting announced on 14th May 2012 came at a total consideration of £3.0m. In the year ended 31 December 2011 Trett achieved turnover of approximately £14.0m (Driver…