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When private equity investors Buckthorn Partners and One Equity Partners acquired Amey from Ferrovial in December 2022, they promised to invest to grow the business.

The 2024 annual report of Amey UK reveals there was not much growth in 2024 but they are working on it.  

“We expect to complete some M&A activity in 2025,” chief executive Andy Milner writes in the report, “enabling us to establish ourselves in targeted geographies beyond the UK and, through the export of proven data analytics and advisory services, establish ourselves in other key new geographies.”

International growth is expected to be led by Amey’s consulting business, based on the legacy Owen Williams & Partners practice acquired in 2006. Amey Consulting has been active overseas traditionally, but less so since the split from Ferrovial.

Milner writes: “International opportunities are a key focus and we won contracts in target areas, including the Bahamas. Our first contract in the Republic of Ireland will see us deliver technical consultancy services to a value of €5m for Roscommon County Council after its appointment to the joint Local Authorities and Transport Infrastructure Ireland (TII) 372 technical consultancy services framework. Australia the United States remain strong targets and early in 2025 our consulting business opened a new office in the New York area.”

In the year to 31^st December 2024 Amey UK group revenue was up just 1% to £1,850.6m (2023: £1, 832.9m).

However, there was solid profit growth, with operating profit up 33% at £116.2m before exceptionals (2023: £87.0m) and pre-tax profit up 30% at £126.7m (2023: £97.0m).

Milner described it as “a highly positive financial performance unimpeded by external global developments”.

Amey Consulting accounts for around 10% of group revenue, turning over £181.4m last year (2023: £203.8m).

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