Engineering consultancy WSP has revealed it intends to buy Sweett Group for £24 million.

Under the terms of the deal, shareholders will be entitled to receive 35 pence in cash for each Sweett share held.

WSP said it believes the company to be an "attractive acquisition opportunity" due to its growth plans and the opportunity to "grow the range of advisory skills of WSP".

CEO of WSP, Alexandre L'Heureux, said: "This transaction fulfils our strategic ambitions of enhancing our project and cost management services and positions our combined group as a leading global consultancy.

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"WSP and Sweett operate a similar business model of global knowhow, local delivery and are highly compatible in terms of strategic objectives, being both pure play consulting firms."

Douglas McCormick, CEO of Sweett, added: "I believe this transaction will provide Sweett, our staff and our clients with enhanced opportunities and the combined entity will achieve increased prominence in the global markets in which we work.

"By joining WSP, this will provide the Company with a stronger platform, both operationally and financially, for growth in the years ahead."

(LM/MH)