80-strong Proficia headquartered in Johannesburg
Turner & Townsend is buying a South African real estate project management firm with operations across the African continent.
Proficia is headquartered in the country’s largest city, Johannesburg, and has a team of 80 staff working on major office HQ developments for Stanbic IBTC in Nigeria and Barclays Bank in Zambia, as well as the Netcare Alberton Regional Trauma Hospital and the Old Mutual Precinct development in South Africa.
The combined company will expand T&T’s presence in Africa, where it has operated for more than 40 years, increasing its staff numbers to 400.
T&T works in 13 cities and 11 countries across the continent, with the acquisition set to expand its reach to 19 and 16 respectively.
Profica’s senior leadership team, led by chief executive Tim White, will remain in place once the deal is wrapped up.
Stephen McCartney, regional managing director for Africa at T&T, said: “This move further reflects our strategic commitment to Africa and our ambition to lead the market in real estate project management.”
Completion of the deal, for an undisclosed sum, is subject to regulatory approval.
No comments yet