Trio share £32m as Entec taken over

THREE directors of a Newcastle-based consulting firm will split £32 million after a takeover by engineering giant Amec yesterday.

The 61.2m swoop for Entec strengthens Amec's hand in key water and nuclear markets and brings with it a roster of blue-chip clients.

Managing director Simon Armes-Reardon, commercial director Douglas Morton and finance director Barry Canfield – the trio behind a management buyout from Northumbrian Water in 2005 – own 53 per cent of the firm.

The original 30m buyout valued their stake at 15.9m. Private equity firm Growth Capital Partners owns the other 47 per cent.