Cardiff-based corporate advisory firm Lexington has acted on the sale of civil, structural and geotechnical engineering consultancy Crouch Waterfall and Partners.
The Stoke-based firm, which has an office in Cardiff, has been acquired by French firm Vulcain Ingénierie, who are backed by the leading European private equity house Equistone Partners. The value of the deal has not been disclosed.
Founded in 1981, Crouch Waterfall employs over 100 staff across its four UK offices. Vulcain, which has operations globally is an engineering consultancy group with turnover in excess of £140m.
The Lexington team of Tom Coombes, Pablo Shorney and Jade Burgess worked closely with the Crouch Waterfall shareholders to structure the transaction and project manage the process through to completion.
MR Coombes, a director at Lexington, said: “It was apparent very early on that a partnership between Crouch Waterfall and Vulcain would provide the Crouch Waterfall team with significant growth opportunities in the future. We look forward to seeing the relationship flourish over the coming years “This deal provides further credentials for Lexington within business services, specifically within built environment consultancies, and is indicative of our expertise and access to investors in this space.”
Julian Howe, Crouch Waterfall director, said: “Tom, Pablo and Jade worked tirelessly to make sure all parties were pulling together to get the deal done. They were invaluable in due diligence, making sure that all responses were provided ensuring momentum was maintained through due diligence. They highlighted key risks early and as a result of their proactivity were able to navigate these at the earliest point of the deal.”
Legal advice to the shareholders was provided by TLT Solicitors with tax advice from UHY.
