Ashurst is advising Waterman Group plc on the recommended cash offer by Tokyo Stock Exchange-listed CTI Engineering Co. Limited.

Ashurst is advising Waterman Group plc on the recommended cash offer by Tokyo Stock Exchange-listed CTI Engineering Co. Limited. Waterman is a multidisciplinary consultancy providing services to meet the planning, engineering design and project delivery needs of the property, infrastructure, environment and energy markets. CTI is the oldest of Japan’s top three ranked major consulting engineering companies and its ten year strategic plan has an objective of diversifying CTI from its reliance on national and local government contracts in Japan and expanding into works for foreign governments, multi-national development banks and private sector clients both inside and outside of Japan.

The offer values the entire issued share capital of Waterman Group at approximately £43 million.

The Ashurst team is being led by corporate partner Nick Bryans, assisted by senior associate Marianna Kennedy and solicitors Jake Hadfield and Rosie James. Incentives advice is being provided by partner David Baxter and associate Rebecca Servian. Partner Crowley Woodford is advising on the employment aspects.