RBS says sale of £10m PCM arm must be finalised by 19 December

Dutch consultant Grontmij and UK firm Baqus are understood to be among several bidders circling the PCM consulting arm of Pettifer Group, according to sources close to the company.

The £50m-turnover Pettifer Group went into administration at the end of last month after its banker RBS pulled the plug on the business.

While the rest of the Warwickshire-based group will be broken up and sold, administrator KPMG is understood to be seeking a sale of the £10m-turnover PCM arm as a going concern.

It is believed that Grontmij has kept a close eye on the UK market in recent months in the hunt for acquisitions, while Baqus is also known to be on the acquisition trail.

Neither company was available for comment.

Sale talks are understood to be intense due to a deadline imposed by RBS of Friday 19 December for completion of the sale.

A source close to Pettifer said: “PCM is a decent opportunity for someone because it’s a niche consultancy and should be resilient through the downwards cycle.”