Haswell Consulting Engineers, UK tunnel consultant, is looking for a buyer, according to a statement released to employees last month.
Haswell is a wholly owned subsidiary of UK water company, Severn Trent plc, and in a notice issued to staff on 7 October, its management said:
“Following long and considered discussions between Haswell Consulting Engineers and the Plc, it has been decided that looking at alternative ownership would serve the best interests, both short and long term, of Haswell and its employees.
“We have recently approached the market place to identify potential buyers, of limited and known capability, and we are now in a position to commence the process with an appropriate party.”
T&TI has learned that the Scandinavian technology company, Carl Bro, is one of the front-runners making a bid for Haswell, alongside at least one other interested party. Carl Bro declined to comment.
Haswell also declined to comment, except to say that they were “responding to market interest,” and that they were “continuing as normal”.
Charles Haswell and Partners was established in 1964, and has been owned by Severn Trent since 1991. Strategic relationships had also been developed with companies such as Costain, Mowlem and Parsons Brinckerhoff.
Severn Trent plc, environmental services group, employs almost 14,000 people and generates annual sales of around US$2.8bn. Within that, Haswell has retained its name and identity, and in the 2001/02 financial year, Haswell posted a 28% increase in turnover, to US$24.8M.
Based predominantly in the UK, Haswell has been involved in some notable international projects, particularly in Hong Kong, supported by a local office. These include: the 1.4km long Nam Wan highway tunnel on the Tsing Yi to Cheung Sha Wan Route 9; and the Kai Tak sewer transfer scheme, comprising a 2.8km bored and cut and cover tunnel.
Closer to home, the company has built framework agreements with a number of UK water and rail companies. Commissions have also been secured on the Channel Tunnel Rail Link, Dublin Port Tunnel and the Dublin Metro, which will contribute 50% of Haswell’s forecast turnover for the next three years.
