This article is from the Australian Property Journal archive
ASX-listed planning and surveying group Veris has bolstered its professional and advisory services with the $16 million acquisition of Elton Consulting.
Established by Brian Elton in 1989 and based in New South Wales, with offices in Victoria, ACT, NT and a presence in Queensland, Elton provides strategic advice to all levels of government, the community sector and blue-chip private sector clients in the property, built environment, transport, infrastructure, water, energy, housing and public policy sectors.
Elton has forecast consulting revenue of $20m in FY18F, representing annual average growth of more than 20% since FY15, at an average EBIT margin over 15%.
Elton has 100 staff including CEO Kim Anson who will continue to manage Elton and will lead Veris’ newly formed professional and advisory business, including integrating Veris’ existing urban and regional planning and urban design businesses.
Founder Brian Elton will join the board of Veris as an executive director and will spearhead Veris’ strategy of developing the national business in professional and advisory services.
Veris said the acquisition not only achieves Veris’ strategic goal of establishing a national urban and regional planning business, a new and complementary growth pillar for our surveying business, but also immediately adds a range of other complementary professional and advisory services.
Veris has undergone a four year period of horizontal acquisitions across Australia with a workforce of approximately 540 employees and annual revenue approaching $100 million, offices across the country.
Veris is eyeing off the professional and advisory services sector, which is a national market of more than $1.0 billion in annual revenue.
Australian Property Journal
