A Birmingham education and sports consultancy has been acquired by a listed London firm for £1.7m.
Aquila Services Group, which was established to acquire and operate growing businesses in the affordable housing services sector, has snapped up Oaks Consultancy.
The Birmingham business was founded by Mark and Adam Walker in 2008 and has an 18-strong team with a plan to grow internationally over the next three years.
Oaks' clients includes Tottenham Hotspur Foundation, the LTA, Leicester City FC Community Trust, Reach2 Academy Trust and England Boxing.
Aquila chairman Derek Joseph said: "Our strategic business plan is to be the 'one stop shop' for all the professional services needed by our current and future clients operating in our market sector.
"The acquisition of Oaks, with its established reputation in the education and sports sector, offers these specialisms in areas where we see our core clients diversifying and provides opportunities to grow our key services to clients in these wider sectors. This is another important step in our business journey.
"We are delighted to welcome the experienced Oaks team, particularly with their reputation for innovation, and we look forward to them being one of the engines of growth for the group."
In the year to 31 March 2019, Oaks posted a turnover of £908,980 and pre-tax profits of £253,552, not adjusted for salaries.
In a joint statement, Mark and Adam Walker added: "Oaks has grown rapidly in recent years and our team has never been stronger, working with some of the most high-profile and exciting sporting institutions and breaking into education with an offer we firmly believe is unique in the sector.
"Joining Aquila Services Group now is a great opportunity to grow and build on our successes to date with a partner that shares our culture, skills and vision, and our commitment to continue delivering fantastic results for our clients.
"We are excited about the potential growth of Oaks within the group and are looking forward to exploring new opportunities in the housing and regeneration sector."
Sourced from Insider Media Limited - written by Jon Robinson