Gleeds says its purchase of rival QS Locus Consultants for an undisclosed sum could herald a consolidation drive in the consultancy sector
The purchase of the 拢3m-turnover business, Gleeds鈥� first substantial acquisition in eight years, is intended to boost the company鈥檚 presence in Scotland and the Midlands.
Industry figures have estimated that the sale price is less than 拢1m.
Richard Steer, Gleeds senior partner, said: 鈥淚t鈥檚 an exciting move and one I think you might see more of over the next year or so, not only from ourselves but from other practices too.
鈥淭here鈥檚 no point hoovering up everything in the UK because it鈥檚 a mature market, but if you need to strengthen various areas, now is a good time to be trying.鈥�
Locus was set up by five former directors of Capita Property Services five years ago and has offices in Glasgow, Edinburgh and Birmingham. It employs 30 staff, all of whom will be transferred to Gleeds鈥� offices and will operate under the Gleeds brand.
Steer added that Locus was attractive because of its presence north of the border. He said: 鈥淪cotland is a solid market but I think it鈥檚 somewhere we needed to strengthen in general market terms.鈥�
Locus鈥檚 projects include Edinburgh council鈥檚 拢50m headquarters (pictured). It is currently providing cost management services on the 拢29m overhaul of the LG Arena at the NEC in Birmingham.
Alan Dickson, Locus鈥檚 managing director, said: 鈥淛oining with Gleeds will give us a much bigger platform from which to access the market and will enable us to quickly develop the joint business into a major player in each of the three cities in which we operate.鈥�
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