Global consultancy WYG has announced that the Board has initiated a formal review of strategic options open to the company – including strategic partnership, merger , acquisition or sale of the company.
The aim of the review is to ascertain whether there are options which could better enable WYG to take full advantage of its growth potential, to the benefit of clients, employees and shareholders.
Since its financial restructuring was completed in July 2011, WYG has implemented a strategy to refocus its operations and achieved a turnaround in profitability. The Board said WYG is now
“well established as a leading global consultancy with a strong International Development capability.. and well positioned for future growth.”
WYG's Half Year Report released on 2nd December 2014 showed WYG is currently enjoying strong growth in its project pipeline and creating “almost more opportunities than it can readily service directly” using its existing model of organic growth, supplemented by smaller bolt-on acquisitions and partnerships.
The Board said it recognises that the strategic review may or may not conclude that, given its current relative scale, being part of a larger business or expanding the scale of its current operating platform would provide significant advantages and better position the Company to take full advantage of its growth potential. At this stage, however, all options available to the Company are being considered.
The review will incorporate a range of strategic options including a potential corporate transaction, such as a strategic partnership, a merger or acquisition to enhance the scale and breadth of WYG's platform, the acquisition of or subscription for the Company's securities by a third party, a sale of the Company, a new or extended bank facility or continuing to invest in expanding the business organically and through partnerships and bolt-on acquisitions.
As a consequence of the announcement, the Company is now considered to be in an "Offer Period" as defined in the Takeover Code.
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