WYG continues acquisition drive with Signet purchase
Project management and technical consultancy WYG has bought town planning and urban design specialist Signet for £3.75m. Signet opened an office in Manchester in 2015.
WYG purchased the entire issued share capital of Signet through its subsidiary WYG Environment Planning Transport.
The acquisition is the latest in a series by WYG, aimed at securing its position as one of the top UK planning consultancies. The firm absorbed Manchester-based FMW Consultancy in June, and in October finalised the purchase of Carlisle-based North Associates and subsidiary Taylor & Hardy.
The Manchester office of Signet has two members of staff, head of urban design Andrew Clarke and urban designer Peter Curran. Both will relocate from Signet’s office in the Manchester One building on Portland Street to WYG’s office in Quay West, Salford Quays.
Signet was founded by Simon Chadwick, James Hobson and Ian Rowe in 2005 in Harrogate, and has since opened offices in London, Newcastle, Nottingham and Manchester with 37 members of staff.
Signet clients include Quintain, Peveril Securities, Arena Racing, Story Homes and JD Wetherspoon.
Of the total consideration for the acquisition, £3.5m is payable in cash on completion with the balance due on the anniversary of completion subject to the satisfactory collection of book debts and work in progress. Simon Chadwick and three other principal directors have agreed to lock-in provisions for the next three years and have also entered into new employment agreements with WYG Environment Planning Transport.