Selling My Construction Business

Professional Construction Design Services Ltd

An “extremely positive” outlook is in store for Professional Construction Design Services (“PCDS”) Ltd after the company’s sale to Goldberg Engineering.

PCDS founder John Paul Murphy is confident the business, which he set up in 1989 and was incorporated in 2003, can go from strength to strength following the deal coordinated by Charles Needham, KBS Corporate Transaction Adviser.

Based in Chesham, Buckinghamshire, PCDS comprises a team of building and structural engineering consultants who offer a comprehensive range of solutions, including in-house design and project management.

With a strong reputation for offering a high-quality and reliable service to a range of prestigious clients, PCDS was ideally placed to achieve considerable further growth – and the timing was right to initiate a sale process.

“The business had two directors both nearing retirement age,” explained John Paul Murphy, Managing Director of PCDS. “Unfortunately, one of the directors suffered an illness which resulted in his retirement, leaving one director to continue the company with the ongoing responsibilities to staff and clients.

“The sale of the business became more important at that stage, both to secure a future for the current staff and to ensure continued service to existing and new clients.

“A sale would also potentially allow for some form of retirement payment to the directors.”

KBS Corporate was instructed to oversee the sale and with the help of marketing material created by Sara Fletcher, Senior Corporate Document Writer, PCDS understandably attracted plenty of interest.

“It was an extremely attractive opportunity for any buyer, especially if they were already in the trade,” said Charles Needham.

“There were 40 enquiries, including a good proportion of trade buyers and interest from overseas and PLCs.”

The successful offer came from Goldberg Engineering, a Kent-based structural engineering company which operates in the residential, commercial, power plant and pharmaceutical sectors.

“The outlook for PCDS is extremely positive based on the level of current workload and ability to increase this with the new staff being introduced to the company,” said John Paul Murphy, who also offered some words of encouragement to business owners that may be tentative about embarking upon an exit process.

“When I was considering the sale of the company it was difficult to appreciate there was a value to it,” added John Paul. “I’m sure this would be similar for other small companies who feel the only value is themselves, and to try to sell the business therefore seems impossible.

“Charles was very positive about the company and was confident it had a value and would sell, which was very encouraging – and ultimately resulted in the sale.”

Capital and Provincial Ltd

Project management and property consultancy company Capital and Provincial has been sold to Bellrock Group in a deal overseen by KBS Corporate.

Established in 2010, Capital and Provincial provides client-focused and results-led project management, quantity surveying and property consulting services to a wide client base, from international corporations to developers and individuals across the UK and Europe.

The company has a team of more than 20 consultants at its offices in Farnham, Surrey, and central London having become one of the leading operators in its industry, serving clients in the South of England in the corporate, hotel, hospitality, residential, technical and education sectors.

Bellrock Group, headquartered in Leicester, is a leading provider of specialist risk-focused workplace and property management solutions with a turnover of £170million.

Its team of 1,600 property and facilities professionals is located at 70 sites across the UK, working on behalf of clients with access to 700 carefully selected suppliers.

“I’m excited by the opportunities the acquisition holds for us,” said Andrew Chisholm, Capital and Provincial Managing Director.

“Being part of the Bellrock Group will open the door to scale and capabilities, whilst keeping the things that make us successful – our people, our relationships and our culture.

“This package will enable us to strengthen our offering to our clients and continue to deliver our growth ambitions.

“With exposure to new sectors, regions and clients, I’m especially positive about the career development potential for our Capital and Provincial people who make me proud every day.

“It’s an exciting time for our clients and people alike.”

Paul Bean, Bellrock Group CEO, added: “Capital and Provincial’s stable of loyal clients and enviable portfolio is testament to the depth of their capabilities and their exacting standards in delivering successful projects for clients who can now benefit from the offerings of the wider Bellrock Group.

“I look forward to collaborating with the team as we explore the exciting opportunities ahead.”

Daniel DiMarco, KBS Corporate Deal Executive who oversaw the transaction, explained Capital and Provincial had been keen to explore the market to see what was achievable to help drive the growth of the business and release equity.

“The company received a good amount of interest and eventually decided to move forwards with Bellrock Group, which is backed by private equity,” said Daniel.

“This was due to them believing in the potential for synergy, as well as being excited by the idea of being part of a larger group of companies and continuing to drive the business forwards.

“Bellrock has acquired a well-respected and profitable company which has been successful for over a decade, with a team of four highly knowledgeable and experienced directors that had built up a significant and loyal client base.

“I believe the outlook for the companies is extremely bright and I’m sure they will continue to go from strength to strength.”

Euro Tool Hire and Sales (South West) Ltd

Euro Tool Hire and Sales (South West) Ltd has been sold to a leading southern tool hire business in a deal overseen by Adam Nelson, KBS Corporate Deal Executive.

With three depots, in Redruth, St Austell and Helston, Cornwall-based Euro Tool has been operating in the regional plant and equipment hire market for almost 30 years. 

Craig Williams, Euro Tool’s Managing Director, instructed KBS Corporate on the sale of the business as he was ready to pursue new opportunities.

Adam Nelson said: “Euro Tool benefits from long-standing customer relationships and good market access via three depots across Cornwall.

“Craig had led Euro Tool for nearly 30 years and I was delighted to assist him in finding the right buyer that can take the business forward while he enjoys the next chapter of his life.”

When marketing the business and liaising with prospective buyers, Adam was supported by Sara Fletcher, Senior Corporate Document Writer, and Drixie Espiritu, Research Analyst. 

Sara Fletcher advised: “Euro Tool was in a strong market position and generating a steady flow of revenue. Naturally, we wanted to highlight its prominent location and industry reputation, showcasing the company’s potential for expansion across South West England.” 

Whilst there was interest from both trade buyers and investors, Alliance Tool Hire submitted the successful offer and demonstrated a long-term vision for Euro Tool.

Alliance Tool Hire is pursuing growth across Southern England and Euro Tool will join the business’s eight affiliated branches, which include those in London, Salisbury and Poole. 

A statement from Alliance Tool Hire South West confirmed the three Euro Tool branches had joined their existing Cornwall operations in Truro and Penzance.

“We believe this will enable us to look after our customers brilliantly everywhere in Cornwall,” the statement said.

“The combined hire fleets have over £3m of equipment, enabling us to service almost all the tool and plant needs of our customers in Cornwall.

“Euro’s equipment fleet includes significant plant equipment from mini-diggers to larger diggers and dumpers, ensuring customers at all five branches can get what they need from us.”

Adam Nelson added: “I am delighted with the outcome of the sale. Due to the vast experience Alliance has in the sector, I believe Euro Tool will be an excellent fit.”