£2.4m deal for building firm tied up

Nik Askaroff
Nik Askaroff

A Kent building firm has been sold to a London design and management consultancy.

Tunbridge Wells firm, Charterhouse Building Services, which provides building and design services, will become part of WSP Group, a London-based consultancy, in a £2.4million deal.

Charterhouse managing director Steve Booth said: "We hope to build upon our existing relationships by leveraging the additional support and knowledge that becoming part of WSP brings.

"We are extremely proud of our track record and heritage, and this move now enables us to deliver a truly world-class service in the future."

WSP chief executive Chris Cole, said: "The acquisition of Charterhouse brings to the group additional staff resources and new clients which will reinforce the services we offer in this important business area."

The deal is one of six that Maidstone-based EMC Corporate Finance has advised on in the last few weeks.

EMC chief executive Nik Askaroff said: "The economy may be going through a period of uncertainty, but it's not really impacting on deal-making.

"There are still plenty of companies out there looking to grow by acquisition, and as many business owners and managers recognising that their companies can benefit by becoming part of a larger operation."

Existing Charterhouse projects will continue to be run by the Charterhouse teams in Tunbridge Wells and London. Charterhouse Energy Ltd will continue to operate independently and does not form part of the WSP acquisition.

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