Pictured: (l-r) Surjit Kooner from Midven with
Christian Bucknall MD and Rob Goemans FD of Confluence and Adam
Percival an associate of Shakespeares
One of the UK's leading construction management and compliance
consultancies is to expand its West Midlands operation as a result
of a management buy-out (MBO) supported by Birmingham-based
Midven.
Midven's Exceed Fund is investing £500,000 to provide
working capital to facilitate the acquisition of Confluence
Management Limited from Confluence Group, the Singapore-based
international construction management group.
Confluence Management is to relocate its head office to
Birmingham, where it already has an operational office, whilst
retaining its offices in London, Manchester and Glasgow.
The company provides a complete construction
management solution from concept through to completion and has
considerable expertise and a strong reputation in luxury hotel
refurbishment and development, higher education establishments and
data centres.
The company's clients include many household names including a
major supermarket group, hotel groups and property consultancies.
Recent projects completed include Park Lane (Intercontinental
Group); One Hyde Park (including Heston Blumenthal and Daniel
Boulud's restaurants in the Mandarin Oriental Hotel); the
rebranding of the Park Inn (Rezidor Group); the Shard London
and the refurbishment of the Hyatt in Birmingham.
Surjit Kooner, investment director for the Exceed Partnership,
said:
"Confluence has an excellent reputation in the marketplace and
is well placed to take advantage of its high level of repeat
business, its secured revenue and its specialist expertise. Here we
have an established company that has a proven track record and as a
separate group, will be able to respond much quicker to market
changes and opportunities."
Confluence managing director, Christian Bucknall, said the
business was well connected and well respected.
"We're delighted that the Exceed Fund is backing our business
which has a proven track record in the sector. We have ambitious
plans and are confident with Midven's help we can realise our full
potential. We have developed an exciting pipeline of opportunities
that have the potential to achieve solid growth," said Mr
Bucknall.
For more information about Midven, please visit their website
here: www.midven.co.uk