When private equity investors Buckthorn Partners and One Equity Partners acquired Amey from Ferrovial in December 2022, they promised to invest to grow the business.
The 2024 annual report of Amey UK reveals there was not much growth in 2024 but they are working on it. 聽
鈥淲e expect to complete some M&A activity in 2025,鈥� chief executive Andy Milner writes in the report, 鈥渆nabling us to establish ourselves in targeted geographies beyond the UK and, through the export of proven data analytics and advisory services, establish ourselves in other key new geographies.鈥�
International growth is expected to be led by Amey鈥檚 consulting business, based on the legacy Owen Williams & Partners practice acquired in 2006. Amey Consulting has been active overseas traditionally, but less so since the split from Ferrovial.
Milner writes: 鈥淚nternational opportunities are a key focus and we won contracts in target areas, including the Bahamas. Our first contract in the Republic of Ireland will see us deliver technical consultancy services to a value of 鈧�5m for Roscommon County Council after its appointment to the joint Local Authorities and Transport Infrastructure Ireland (TII) 372 technical consultancy services framework. Australia the United States remain strong targets and early in 2025 our consulting business opened a new office in the New York area.鈥�
In the year to 31st December 2024 Amey UK group revenue was up just 1% to 拢1,850.6m (2023: 拢1, 832.9m).
However, there was solid profit growth, with operating profit up 33% at 拢116.2m before exceptionals (2023: 拢87.0m) and pre-tax profit up 30% at 拢126.7m (2023: 拢97.0m).
Milner described it as 鈥渁 highly positive financial performance unimpeded by external global developments鈥�.
Amey Consulting accounts for around 10% of group revenue, turning over 拢181.4m last year (2023: 拢203.8m).
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