It is anticipated that the acquisition will beearnings enhancing for the Group in its first full year of ownership.

Nisbet has 12 Partners and 88 staff providing quantity surveying, project management and health and safety services. Nisbet's offices are located in the Midlands, London, the South and South-West of England, hence the acquisition will further strengthen Cyril Sweett's existing diverse regional office network in the UK.

The audited financial statements of Nisbet LLP for the year ended 30 September 2007 recorded turnover of £6.9m and normalised EBITDA, adjusted for (former) partners' remuneration contracted in the year following completion, of £1.1m.

The initial consideration represents a multiple of 3.5 times EBITDA.