Amey purchases Crown Business Comms for £13m

Business services group Amey has bought Crown Business

Communications in a deal worth nearly £13m.

Amey - a former Crown client - paid an initial consideration of £9.1m for B2B communications firm Crown. It has agreed to fork out a

further £3.7m if Crown meets its pre-tax profit target of £1.6m by December 2002.

Crown, which was founded in 1981, specialises in business communications

ranging from organising shareholder meetings, live events and

conferences to producing websites and corporate videos.

Clients include Equitable Life, Egg, Heathrow Express, One 2 One and


Crown MD Nick Lamb has taken on the role of chairman as a result of the

Amey takeover.

He said: 'We had always intended, when we set up the company and

completed an MBO some seven to eight years ago, that we would sell the

company to realise its value.

We believe that a relationship with Amey will provide opportunities

going forward.'

Amey has evolved from a construction company into a diversified business

services group capitalised at just under £1bn and turning over

£750m a year.

Crown, which recorded a turnover of £13.9m for 2000, will sit as

an autonomous entity within Amey's technology services offering, headed

by director John Robinson.

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