Product category:
Architectural Services
News Release from: Mouchel
Edited by the Buildingtalk Editorial
Team on 09 August 2007
Mouchel Parkman and HBS acquisition
Mouchel Parkman's GBP46.24 million acquisition of HBS has significantly strengthened its professional property offering.
HBS is a leading provider of support services and transformational change to local government and education with an unaudited turnover of GBP124.1 million in the financial year ended 31 March 2007 It employs 3,000 staff across the UK
This article was originally published on Buildingtalk on 26 Feb 2007 at 8.00am (UK)
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HBS offers a wide range of property-related services including facilities management; building design and project management; and asset management all of which complement Mouchel Parkman's existing capabilities.
The company has around 395 staff working on property-related activities.
HBS' managed service contracts, which following the acquisition will continue to be led by the existing HBS Partnership Directors, fit well alongside the Group's existing portfolio of long-term contracts and help to facilitate the Group's move into larger and longer-term relationships.
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The acquisition of HBS further consolidates the Group's ability to respond to the expanding market for 'bundled' service strategic partnerships using in-house resources.
The two companies already have an established complementary relationship working together in a GBP300 million 12-year strategic services partnership in Oldham.
They also recently won preferred bidder status for the 10-year ISiS partnership with Somerset County Council, both as subcontractors to IBM.
The number of Mouchel Parkman employees will rise to around 11,000; bringing the company closer to realising its strategic objective to grow the company to 15,000 by 2012.
Commenting on the news, Richard Cuthbert, Chief Executive of Mouchel Parkman plc said: "This is a great development for Mouchel Parkman.
The deal represents a significant step, supporting the strategy laid out in our Corporate Plan, the outcome of which is a business two or three times our current size by 2012.
"HBS is a great fit for us, bringing a range of complementary skills and clients.
They have good people, all of whom have a very similar background and culture to many of our existing workforce.
We know them well, having worked together successfully for the last couple of years.
Peter Manning, Chief Executive of HBS said: "We are delighted with this deal.
Having spent the last three years stabilising and then starting to grow HBS again, the company is in ideal shape to join forces with Mouchel Parkman, a business that we know and respect.
"Our key partnership contracts have completed their early investment phase and, with good relationships in place, they provide a tremendous platform and set of reference sites to take the business forward.
I am very pleased to be handing over the reins to Mouchel Parkman who I am confident will take the business on to the next level and offer our staff both security and opportunity.".
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