Completed sale
Martin Bates Consultancy Property Management & Construction Business Acquisition by Grassby Associates
Knightsbridge negotiated a deal between two construction consultancy companies… Our client, Martin Bates Consultancy Limited, is a provider of comprehensive chartered building surveying and project management consultancy services to commercial clients. Although Martin and his team are based in Surrey, the company operates with national coverage. Operating since 1992, Martin Bates has established a strong prominence within its areas of operation. It does not undertake any active marketing, benefitting solely from word-of-mouth and referrals to generate publicity. Due to the company’s success, advertising has been deemed unnecessary, but makes for an avenue that could be explored alongside increased capacity. It is also a fully relocatable opportunity, as the business can be operated from any location. Martin Bates services commercial clients across an array of sectors, specialising in the institutional and major property investment sectors. The company benefits from six long-standing relationships, all of which span over a decade – a testament to its excellent customer service. Sara Thomasson, Knightsbridge Operations Director, added to Martin Bates’ appeal: “The business recently generated a turnover of £308,000, with an adjusted EBITDA of £239,000. Its clientele includes FTSE 250 companies, family trust offices and high profile individuals. It is an ideal acquisition for a similar or synergistic organisation.” Knightsbridge generated the interest of 54 potential buyers. A total of seven meetings were conducted off the back of this intrigue and we ultimately tabled an offer from Neil Grassby, a businessman with over 25 years’ experience in the construction industry. Neil formed Grassby Associates in 2013, a highly successful Northwich-based construction consultancy company, which should be able to seamlessly incorporate Martin Bates into its group.