Cardno expands discipline base into Landscape Architecture - 1 May 2007

5/1/2007

Cardno Limited (ASX: CDD) has further expanded its physical infrastructure services discipline base via the acquisition of S.P.L.A.T., a Brisbane and Gold Coast based landscape architecture, urban design and environmental management consultancy. 
The acquisition of S.P.L.A.T. to form Cardno S.P.L.A.T. is expected to contribute $4 million in revenue annually and be EPS positive.
 
Cardno S.P.L.A.T. will add a new dimension to Cardno’s multidisciplinary professional services by offering landscape architecture and expanded environmental and urban design services.
Cardno Limited Managing Director Andrew Buckley said S.P.L.A.T. was an excellent strategic fit, which will complement Cardno’s existing civil engineering urban development business.
 
“This acquisition will enable Cardno to leverage existing urban development capabilities and provide an extended range of services to our current client base,” Mr Buckley said.
 
“The purchase of S.P.L.A.T. aligns with Cardno’s strategic focus of acquiring businesses which enhance current infrastructure services capabilities and provide additional cross selling opportunities to further grow Cardno’s revenue and profit,” he added.
 
Mr Buckley said that S.P.L.A.T.’s current client base would now be able to access the extensive resources of the Cardno group and as a result of the acquisition, Cardno will now offer a complete design solution for land development and infrastructure projects.
 
“With high demand from the urban development sector, particularly in Queensland, Cardno S.P.L.A.T.’s forty staff are a welcome addition,” said Mr Buckley.
 
Established in 1993, S.P.L.A.T. has built a solid reputation in masterplanning, urban design, environmental management, recreational and park design and residential and commercial development.
 
S.P.L.A.T.’s impressive project portfolio includes Emporium, the James Street Precinct, the Brisbane Airport Landscape Masterplan, ‘Aquativity’ at Southbank, BP Super Service Centres, the multi award winning Ecovillage at Currumbin, ‘Edenbrooke’ and the Caloundra Coastal Walk.
 
The acquisition will be funded by a mix of cash and shares and the Principal and founder of S.P.L.A.T., Stephen Pate, will become a shareholder in Cardno Limited and remain active in the company. Cardno will also look to expand the landscape architecture discipline to the other states.
 
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For further information please contact:

Mr Andrew Buckley
Managing Director
Ph: 07 3369 9822 or Mobile: 0412 059 526
 
Mr Jeff Forbes
Chief Financial Officer
Ph: 07 3369 9822 or Mobile: 0408 756 790
 
About Cardno: Cardno is an integrated professional services provider, locally delivering the specialist advice necessary to create or improve the physical and social infrastructure that underpins communities around the world. Cardno’s team comprises leading advisers who plan, design, manage and deliver sustainable projects or community programs. Cardno is an international company, listed on the Australian Securities Exchange [ASX: CDD]. www.cardno.com