Acquisition of Nigel Rose Group

1st July 2009 | Posted in: Baqus News

Baqus is pleased to announce the acquisition of the Nigel Rose Group, which consists of Nigel Rose LLP and Nigel Rose Management Limited (together "Nigel Rose").

The consideration for the acquisition will be based on Nigel Rose's adjusted net assets as at 30 June 2009 and will be satisfied through a cash payment on or before 30 September 2010.

The Nigel Rose business was established in 1964 as a firm of Chartered Quantity Surveyors and operates from four offices in London, Cheltenham, Wokingham and Warrington enabling it to offer nationwide coverage. The majority of work in 2008 was in residential (30%), healthcare (16%), transport (11%) and education (19%) sectors.

The professional services undertaken by Nigel Rose have developed since its origins and now embrace the roles of Cost Manager, Procurement Manager, Commercial Manager and Project Manager together with Risk Management, CDM (Construction, Design & Management) Co-ordinator services, Value Engineering and Dispute Resolution/Expert Witness services.

Nigel Rose LLP was incorporated on 8 January 2008 and, following the transfer of the original business of Nigel Rose and Partners, commenced trading on 1 April 2008. Nigel Rose Management Limited was incorporated on 24 December 1991 and provides Project Management services.

In the nine months ended 31 December 2008, Nigel Rose reported a profit of £246,062 before members' remuneration and profit shares on fee income of £1,275,585. Net assets at 30 December 2008 were £158,469.

Clive Sayer, the Chief Executive of Baqus, commented:

"Working closely with the key people at Nigel Rose, we have identified a number of areas when we can expand the business while, at the same time, reducing costs. More importantly, it will increase the number of sectors in which we have a significant presence and I am confident that it will make a good addition to the Baqus Group."

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