WYG buys Irish consultant for £4.3m

White Young Green (WYG) has bought Denis Rooney Associates (DRA), a project management, cost management, building surveying and planning supervisor services specialist with offices in Belfast and Dublin, for £4.3m.

DRA's Belfast division made a pre-tax profit of £638,419 on a turnover of £1.6m in the year to 31 March 2003. The Dublin arm made profit after tax of £84,022 on a turnover of £772,949 in 2002.

DRA's blue chip clients include the Queens University of Belfast, Belfast City Council and Fujitsu Fulcrum.

Last week WYG raised £9.7m from a placing with institutional investors and an open offer to qualifying shareholders. This sum is to be spent on acquisitions and reducing the consultancy group's gearing.