Construction and property consultant boosts public sector portfolio with purchase of regional player
Cyril Sweett has acquired QS and project manager Nisbet for £5.9m.
The deal will see the construction and property consultant takeover Nisbet’s offices in the Midlands, London, South and South-West.
Nisbet has 12 partners and 78 staff and operates primarily in the public sector, with 40% of its income expected to come from education this year.
Dean Webster, chief executive at Cyril Sweett said: “The quality of Nisbet’s team is reflected in the strong track record of project wins, repeat work and referrals.”
Nisbet recorded a turnover of £6.9m and adjusted profit (EBITDA) of £1.1m for the year ended 30 September 2007.
Martin Hadnutt, chairman of Nisbet said: “We have experienced strong consistent organic growth in our key markets, and joining Cyril Sweett will enable us to take our development to the next level.”