RPS Makes Another Acquisition
DBK Partners Limited (DBK) is a leading UK project management and cost consultancy business. Headed by Tim Downing, the company provides project management and cost consultancy services across the UK, and in Europe. Clients include many household names in the property and construction sector as well as public sector bodies.
The company was acquired by RPS Group Plc (RPS) in 2016 in a £13m deal. This is the latest in a long history of successful acquisitions both in the UK and globally by RPS and follows the acquisition of key players in project management in Norway and Australia.
Malcolm Cook has been advising RPS since 2000 and has provided acquisition support to RPS since then on all of their acquisitions in the Northern Hemisphere. When Malcolm joined Orbis, RPS retained his services.
In relation to DBK, RPS was provided with a full acquisition support service as well as undertaking financial due diligence on the company.
- Identified DBK as a potential target and approached them on behalf of RPS.
- Assisted RPS in negotiating the terms of the acquisition, culminating in agreed Heads of Agreement between the parties.
- Briefed all advisors and co-ordinated the requirements for due diligence and the legal documentation to complete the acquisition.
- Worked with RPS to agree on a formal scope for all aspects of due diligence.
- Undertook a detailed investigation of the historical, current and forecast financial performance and position of the company.
- Undertook a review of the tax affairs of the company under taxation due diligence.
- Provided regular updates to the board of RPS.
- Co-ordinated all parties meetings.
- Project managed the acquisition process to a successful completion meeting when the acquisition was signed off, providing advice throughout to RPS.