Consultant Cyril Sweett has purchased a project management and consulting service in north London for £500,000.
Eight of Altonwood Project Services’ 10 staff will move to Cyril Sweett’s London headquarters, one will work in Leeds and the other Birmingham.
The company is expected to bring expertise in development management advice to Cyril Sweett, an area in which the company is looking to improve. Altonwood also brings with it a strong retail portfolio, with partners including Tesco, Somerfield and Asda.
Cyril Sweett hopes Altonwood’s current projects, which have yet to be disclosed, will strengthen its position in the retail market.
The firm said although there were no immediate plans to make any further acquisitions, it was always looking for ways to “expand both regionally and internationally”.
Dean Webster, Cyril Sweett’s chief executive officer , said: “Given that Altonwood has established relationships in the commercial and public sector markets, it is a perfect addition to our established teams in these arenas.”