© Livingstone Partners 2012
Livingstone Partners LLP is regulated by the FSA
website by Hughes Media
Livingstone Partners LLP is regulated by the FSA
website by Hughes Media
Livingstone Partners is an international investment banking organisation,
the partner firms of which are separate legal entities. All rights reserved.
‘Quantity not Quality’ in International Consulting Deal
August 2006
In yet another deal that reflects the current trend towards consolidation within the construction services industry, Berkeley Consulting, the Surrey-based quantity surveying and project management firm has been acquired by AYH Group Plc, a subsidiary of Arcadis NV of Holland.The successful transaction follows a carefully-managed sale process by Livingstone that resulted in an offer from Arcadis. According to Tom Phipps, the Livingstone deal leader who worked on the transaction, the outcome offers the partners of Berkeley Consulting, Tony Foster, Mark Stayt and Craig Morrison, the best opportunity to take the business forward.
The company, which employs around 100 people and has offices in Glasgow, Birmingham and London in addition to its Camberley HQ, provides quantity surveying; commercial, project and contract management; and dispute resolution in sectors such as property, engineering, transport and utilities.
Construction consultants AYH plc were themselves acquired last year by Arcadis, an international company providing consultancy engineering and management services in infrastructure, environment and facilities.
The transaction was the third in the sector to be negotiated this year by London corporate finance boutique Livingstone. Partner Jeremy Furniss comments: “With a strong property market and the significant developments that are planned for the run up to the London Olympics, as well as the unusually high levels of construction activity generally, professionals in all aspects of the industry are going to be in great demand.
Berkeley Consulting is a QS specialist with significant resource, in an industry which has historically experienced staff shortages”
Tony Foster of Berkeley Consulting comments: “We have been very successful developing our business in the UK market, but we believe we can accelerate growth by joining a larger firm. The access to additional technology and experience that will come from joining Arcadis will be beneficial for our clients. In addition, we believe this transaction will provide new growth opportunities for our staff as well.”
Jeremy Furniss adds: “The sale of Berkeley Consulting follows our successful disposal of Birmingham consulting engineers Owen Williams earlier this year and building designers Burks Green in July, and demonstrates both Livingstone's strength in this sector and the consolidation that is going to accelerate within the construction services sector over the coming months and years.”
Jeremy Furniss, Partner
Tel: 020 7484 4703
Email: jfurniss@livingstonepartners.co.uk
Tom Phipps, Deal Leader
Tel: 020 7484 4717
Email: tphipps@livingstonepartners.co.uk