Online Stockmarket Trading Update

Global professional services consultancy Coffey International Limited (COF) today announced it has acquired 100 % of Global Justice Systems (GJS), based in Australia and the United Kingdom (UK), and Libra Advisory Group Limited, a UK-based consultancy. Coffey paid $4.9 million for 100 % share capital in GJS and paid £0.25 million ($0.42 million) cash and £1.75 million ($3 million) in shares for Libra Advisory Group. Both have been funded from existing cash reserves and have earn-outs based on performance over the next two years. GJS has annual revenue of approximately $9 million and Libra has annual revenue of approximately £2 million ($3.3 million). Both businesses will join Coffey International Development’s global team of approximately 1,500 development professionals.

Coffey International Limited managing director Roger Olds said: “The addition of these two businesses   to Coffey International Development represents a strategic opportunity to address significant changes occurring in the international development services market.” A significant part of Coffey International Development’s current business is in fragile states and post- conflict environments, providing stabilisation and recovery services such as post-conflict and post-disaster governance and reconstruction ; conflict analysis mitigation and peace-building ; security sector reform ; justice reform etc. “The UK Government has been the world leader in bringing together development, defence, and diplomacy (the 3Ds), and Libra has led the UK market in providing specialist consulting services for the 3Ds. GJS has been a key supplier in Justice Sector Reform and Rule of Law across many nations.

Both companies have been key sub-contractors to Coffey and prime contractors in their own right, and have developed specialist reputations based on the extensive experience of their teams. Bringing these together creates a market leading capability globally which will further enhance the Coffey capability to deliver major projects. “These projects are being created and delivered by our traditional aid clients, but there is also a new segment of government clients that are charged with stabilising communities using these new skill sets as opposed to conflict. Coffey is very keen to be playing a growing role in this new approach to global stabilisation,” Roger said.

www.coffey.com