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Roger Knowles is planning to float another company on the stock exchange, only months after selling the company he formed 30 years ago to US group Hill International. Knowles has developed a plan with a former colleague to attract three to four medium-sized QS practices to merge together and then list on the Alternative Investment Market.

He is working with Patrick Lineen, who was finance director at Knowles from 1986 to 2002 and played an instrumental part in floating the firm in 1998. They have targeted 12 firms which are potentially suitable to merge into super practices. These companies could rival major QS firms, and would be 拢2-5m in turnover.

Lineen said that the pair鈥檚 business plan had already received interest from the City: 鈥淲e have had preliminary contact with a stockbroker and he鈥檚 confident that he can raise the funds. He thinks QSs are attractive to the City; they have a stable source of income as opposed to riskier sectors such as high-tech companies. They are all busy and fee rates will be improving.鈥�

Lineen said the option would be ideal for partnerships whose bosses were approaching retirement or firms with ambitious management. 鈥淚t鈥檚 a managed exit route for those who want to release their stakes in their companies. In partnerships there is no recognition of goodwill in the business,鈥� he said. 鈥淚t could appeal to both the older boss coming up to retirement and the younger boss who aims to eventually become the head of a sizeable quoted QS firm.鈥�

The model is similar to the one adopted in the accountancy sector by Tenon, which first floated as a medium-sized firm before it grew through the acquisition of smaller businesses, he explained. 鈥淚n floating, it became a bigger player. We want to create a QS consolidator.鈥�

Knowles commented that he was ideally looking for firms which operate in different regions so as to create a national player. 鈥淲ith framework deals, you now need a broader presence. These firms can cluster together to compete with the EC Harrises of the world.鈥�

With firms winning longer-term work, floating was becoming increasingly viable. 鈥淲e could be starting a trend here,鈥� he said. Knowles said he would consider investing in the newly formed listed firm. 鈥淲e might put money into it. We are flexible.鈥� But, he added: 鈥淲e are not going to wait around forever.鈥�