Consultant DBK Back has acquired rival Goyne Adams in a move that means the company will have more than doubled in size since a management buyout 18 months ago.
The turnover of Birmingham-based DBK Back will exceed £11m as a result of the acquisition, which has been made for an undisclosed sum. This compares with the £4.5m recorded by the firm in 2005, when three directors bought the stake of David Back, its founder.
The joint firm will have offices in London, Birmingham, Manchester, Bournemouth and Ipswich. London and Bournemouth will operate as DBK Goyne Adams whereas the Manchester and the Birmingham offices will continue as DBK Back.
Roger Adams, Andrew Kennedy and Gordon Balharrie, who are Goyne Adams’ directors, will become directors of DBK Goyne Adams.
Tim Downing, managing director of DBK Back, said the acquisition would establish the company as a national consultancy. “The strength of DBK Back and DBK Goyne Adams throughout England positions us on the same playing field as the global operators that have a very strong UK presence,” he said.
The strength of DBK Back and DBK Goyne Adams positions us on the same playing field as the global operators
Tim Downing, DBK Back
DBK Back has been particularly keen to increase the breadth of its offering in London, where its work includes the Paddington Basin project (pictured). Goyne Adams has mainly worked in cost consultancy in the City.
Adams, former managing director of Goyne Adams, said: “Having new impetus and direction is exactly what Goyne Adams needed. DBK Back has been successful at seizing and exploiting growth opportunities and it has achieved this with the full backing and inclusion of its team.”
The move follows continued speculation about consolidation in the consultancy sector. Property services group Erinaceous bought property consultancy Dearle & Henderson last month, and there have been takeover rumours surrounding large consultancies, including Currie & Brown and MDA.
For more on the history of DBK Back, go to www.building.co.uk/archive