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Fri 04 Apr 2007Irish firm buys €6m UK practiceCivil engineering firm Project Management has bought a UK architects firm in a deal valued by the industry at about €6 million. Barry O'Halloranreports.Project Management has just signed off on the purchase of Devereux Architects Ltd, a mid-sized practice that employs more than 60 people. Neither side revealed the price paid, but the industry rule of thumb for deals of this nature is that practices sell for a figure slightly less than their turnover. On that basis, the purchase will have set Project Management back somewhere in the region of €6 million.