RSK has announced the acquisition of property services business 3BM Group for an undisclosed sum.
3BM has regional offices in London and Chelmsford but works across the UK public and private sectors, specialising in project management and consultancy services, architecture, quantity surveying, and planning.
Clients include the NHS, the Crown Commercial Service, the Department for Education, and Westminster City Council as well as a host of educational institutions.
Recent projects include St John’s College, Oxford (2021–ongoing) and Brooklands College, Surrey (2021–2022).
3BM Group managing director Andy Rennison will continue to lead the business.
RSK CEO Alan Ryder said: “3BM boasts an impressive project list that showcases its valuable work for local authority clients while also serving those in the further education, higher education, research and independent education sectors.
“Some of our businesses have already had the opportunity to work with 3BM, and we look forward to adding its knowledge and experience to RSK’s group of businesses.
“In addition to this, 3BM Group is a business that clearly reflects RSK’s values.
“The company states that it wishes to provide creative, high-quality, sustainable solutions that make a difference for clients and to deliver outcomes, challenge its people, grow its reputation across the sectors in which it operates and become market leaders, and this is clearly aligned with our group’s commitments to our colleagues and clients.”
Legal
The acquisition advisers to RSK were Memery Crystal and Cortus Advisory Group.
The shareholders of 3BM were advised by DTE Corporate Finance and FieldFisher.
RSK recently secured a £520 million cash boost from a consortium of private equity investors led by Searchlight Capital and Ares Management, to pursue its organic growth plans and mergers and acquisitions programme.
The investor partnership was first announced in June, which at the time promised a £500 million capital injection in the Cheshire-headquartered company.
Other businesses in the investor pool included UK private equity firm Penta Capital, and shareholder BGF who then provided an additional £20 million to the equity package, raising the total amount.
Longstanding investor Ares also committed to an incremental £300 million debt facility for the business, a total of £1.4 billion to date.
RSK now comprises more than 200 businesses, employing more than 15,000 people, with annual turnover at the end of FY2023 of £1.2 billion.
Rennison said: “My 3BM and Fusion colleagues, who are gifted and experienced architects, planners, quantity surveyors and project managers, are looking forward to the opportunity to grow and develop the business as part of the RSK Group.
“We feel our qualities and reputation will support RSK to expand into the education sector, and we look forward to utilising the phenomenal skill set of the RSK Group.”
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