Australian project management consultancy TSA Management has expanded into the United Kingdom with the acquisition of Henry Riley, a 200-strong project management and quantity surveying business.
With the addition of Henry Riley, TSA Management grows its team to 850 staff, with its office footprint jumping by 9 to 23 across Australia, New Zealand, Malaysia, and now the United Kingdom.
Commenting on the deal, Andrew Wilson, CEO of TSA Management, said: “We are really pleased to be launching TSA Management into the United Kingdom. We see great synergies in not only the project landscape but also the objectives, culture and operations of both TSA Management and Henry Riley.”
Established over 130 years ago, Henry Riley helps clients in the construction and property industries with setting up and delivering their projects. The firm specialises in the commercial, education, health, industrial, logistics, leisure, residential, retail, transport, and infrastructure sectors. Notable clients include Bupa, Amazon, Ikea and the NHS.
“By joining forces with this established and highly-respected name in the UK, we propel our business forward and continue the momentum we have created in recent times,” said Wilson.
The deal continues a period of strong growth for TSA Management, with revenues in the past five years up 400% on the back of organic growth and acquisitions including New Zealand firms Xigo and Cequent (project management), and Australian firms Advisian (advisory) and ProManage (project management).
Backed by Quadrant Private Equity, TSA Management aims to grow into a “leading global player”, said Wilson. “Our global presence will allow us to continue to build on what we have already achieved in the Asia Pacific region where we are established as a leading and highly-trusted project consulting business.”
During the deal process, TSA Management received M&A advisory guidance from Equiteq, and legal counsel from Minter Ellison.
Reflecting on the deal, Alex Monck, Managing Director ANZ at Equiteq said: “It has been a privilege to advise TSA Management on its first major acquisition beyond the Asia Pacific region. We are very proud to have played a role in this very significant strategic move for TSA Management.”
The deal comes hot on the heels of Equiteq closing two sell-side mandates for clients in Asia.
Meanwhile, for Henry Riley, the joining of forces with the larger counterpart will “create growth opportunities creates for our business, and most importantly, our people,” said CEO David Needham.
“We feel TSA share our people-first culture and our commitment to integrity, as well as our broader values. From the start, our conversations have centred on what this move might mean for our people. We believe this partnership creates something bigger than the sum of the parts.”
Sourced from Consultancy.com.au