KBS Corporate has advised on the acquisition of BRCS (Building Control) Limited, a Corporate Approved Inspector of commercial building projects based in Essex, to Hickton Holdings Limited, a leading provider of specialist Clerk of Works services in Barnsley.
Established in 1996, BCRS offers comprehensive support and approval services to commercial building projects. These services provide a private sector alternative to building regulation approval, incorporating assessment of design proposals, consultation with local fire authorities, inspection of ongoing building work and the issue of a final building control sign off certificate. BRCS works with a multitude of prestigious blue chip clients in a wide range of sectors, including hospitality, construction, defence, manufacturing and retail, to name a few.
Having built up the business for over 20 years, the exiting shareholders of BRCS decided to offer their shares for sale in order to plan for the future and retirement. Although retirement plans were at the centre of their motivations for sale, the shareholders have committed to remaining within the company for a period of two years.
The shareholders expressed a desire to pass BRCS into the hands of a new owner that would grow the company through expanding the company’s service offering to provide fire safety services, construction design and training. In addition, growth opportunities were identified through the implementation of an advanced sales and marketing strategy, and KBS Corporate aimed to find a buyer that would ensure fulfilment of these growth objectives.
A robust research strategy was conducted, which saw a range of trade buyers and private equity houses contacted. The eventual acquirer was Hickton Holdings Limited, a trade buyer within the construction sector. The acquisition was backed by Chelverton Equity Partners (CEPS), and the transaction value was £1.3m.
Hickton’s services include quality assurance, compliance inspection, NEC project supervision, construction supervision, expert witnessing and forensic investigation. Hickton’s motivations to acquire BRCS were largely based upon the strong synergy between the two companies. With both companies operating within the same sector in different areas of the UK, the acquisition will allow both companies to utilise each other’s client base and expand into different areas.
Guy Haynes of KBS Corporate advised on the deal, “It is clear that there are strong synergies, as well as shared values, between BRCS, Hickton and CEPS, which gives rise to optimism on all sides that this transaction will prove to be a success.”