Flint Bishop and accountants Ashgates advised the four former shareholders of water industry specialists Clear Environmental Consultants Ltd on the sale of their business to RPS Environmental Management Limited, a subsidiary of RPS Group Plc, for a maximum consideration of £8.34 million.
Founded in 2003, Clear Environmental Consultants Ltd has offices in Derby, Sheffield and Glasgow They employ around 90 permanent staff, as well as utilising part-time specialist associates who work primarily on projects for the UK water industry including urban pollution management, sewerage and river modelling and ecology. The four vendors are remaining with Clear, notwithstanding the sale.
The RPS Group Plc is one of the world’s leading multi-disciplinary consultancies advising on all aspects of the built & natural environment. The acquisition provides the RPS Group with an exciting development opportunity to penetrate further the growing wastewater market in the UK, as well as the benefit of providing a broader range of services to its existing clients.
Flint Bishop’s Head of Corporate Finance Martyn Brierley worked closely with the four former Shareholders of Clear to ensure the deal was completed within a strict timetable. He commented;
“It was a pleasure to work alongside our clients to help them realise the value of a business they have worked tirelessly to nurture and grow. The transaction needed to be completed within 7 weeks, which meant an intense period for our clients who, notwithstanding the pressure they faced with having to maintain the efficient running of their business, were great fun to work with. This is one of a number of deals we are working on with similar tight timescales demonstrating an improvement in M&A conditions, an appetite to get deals done, and our strength and depth of resource”
David De Rosa, one of the vendors of Clear, commented:
“The sale process was intense and daunting, but Martyn and the Corporate Finance team at Flint Bishop were excellent in guiding and supporting us through the process. We really appreciate the effort, commitment and professionalism of the team. Equally, we enjoyed the friendly approach that kept us going through all the hard work.”
For more information, please contact a member of our Corporate Finance team.