SMC is in talks with a private equity backed third party over a potential offer
Merger talks between Aukett Fitzroy Robinson and troubled rival SMC have been scrapped, the companies announced today.
However, SMC has revealed that it is in talks with a private equity backed third party over a potential offer for the group. The architect said that discussions were at a preliminary stage.
In a statement, Aukett said it had been “unable to agree satisfactory terms” with SMC for a merger, and that the talks have ceased.
The developments come two weeks after SMC announced a pre-tax loss of £4.5m for the six months to 30 June, compared with a £1.8m profit in the corresponding period last year.