Midlands-based consultant was bought for £13m by stock exchange-listed RPS this week
Midlands-based DBK is planning to expand internationally and through further acquisitons following its £13m takeover by stock exchange-listed consultant RPS this week.
DBK becomes part of £567m-turnover RPS’ Europe division, as the larger consultant seeks to bulk up its building consultancy work after suffering a slowdown in its core energy business.
Speaking to Building, DBK director and co-founder Duncan Berry said the deal would enable DBK to grow nationally and internationally: “For us it’s about looking both organically, and also via acquisition, to grow the QS/PM building division for RPS. That’s the growth plans over the next five years or so with us.”
RPS provides energy, infrastructure and property consultancy services to clients across Europe, North America and Asia Pacific. It employs 5,000 staff across 125 countries. DBK is the firm’s first acquisition of a cost consultant, project management or building surveying firm.
DBK is headquartered in Birmingham, has a turnover of £12m and employs more than 140 staff. DBK’s director shareholders Tim Downing, Duncan Berry and Steve Kelly will remain with the business, having signed three-year employment agreements.
DBK will continue to trade as DBK Partners Ltd as an independent subsidiary to RPS and will have representation on the RPS Group board.
DBK has grown rapidly in recent years, picking up major projects across the UK, particularly in Birmingham, like the revamp of the Mailbox shopping centre, and in London, including the luxury Manhattan Loft Gardens residential tower in Stratford (pictured), east London.
Berry, Downing, and Kelly, DBK’s managing directors, added: “DBK has enjoyed an incredible decade of growth, employs an extremely talented and enthusiastic workforce and is on track to deliver a turnover of £13.5 million.
“We pride ourselves on our long established client relationships and also successfully attracting new clients from new sectors to our portfolio. Moving forward we have identified a substantial pipeline of opportunity and we are in a great strategic position to consider our growth options.
“During our growth review process we were approached by RPS. The Group was looking to establish a project management, cost consultant & building surveying division and identified the potential in our business to satisfy this requirement and the wider growth strategy of the RPS business.”