Testconsult Ltd

In a deal worth a total cash consideration of £9.1 million, Testconsult Ltd has been acquired by James Fisher and Sons plc.

North West-based Testconsult is a market leader in providing structural materials testing, structural investigation, foundation testing and instrumentation and monitoring services, operating across the whole of the UK, Ireland and worldwide.

The deal was successfully concluded by KBS Corporate who identified buyers through their extensive and pro-active approach, utilising their widespread range of UK and International buyer contacts.

Using a truly global approach, KBS Corporate identified 22 interested parties from both UK and overseas trade buyers, including interest from countries including France, Netherlands and Australia. Such an approach generated a competitive buyer process with multiple offers received from a wide range of buyers. The first offer received for the company was £3.25 million, meaning KBS Corporate negotiated an uplift of £5.85 million on the initial offer and the final consideration received was in the region of x11 operating profits.

Operations Director Matt Clancy commented: “We are delighted with the sale of Testconsult to James Fisher and Sons, the deal demonstrates our commitment to a truly global approach when targeting suitable trade buyers and our focus on maximising shareholder return for our clients.”

This ‘strategic’ acquisition will extend and compliment the range of services provided by James Fisher’s Strainstall monitoring business. Strainstall has developed world-class systems to monitor physical and performance parameters such as load, stress, temperature, acceleration, pressure and displacement.

The deal will aid James Fisher in expanding their activities in testing and monitoring with complementary skills, products and services and help to build on both companies combined strengths, particularly in international markets.