Consultant bought by Oxfordshire-based RPS

Midlands-based DBK has been bought for 拢13m in cash by London stock exchange-listed consultant RPS.

Founded in 2005, 拢12m-turnover DBK is headquartered in Birmingham and employs 120 staff. It has been bought by 拢567m-turnover Oxfordshire-based RPS, which provides energy, infrastructure and property consultancy services to clients across Europe, North America and Asia Pacific.

DBK鈥檚 director shareholders Tim Downing, Duncan Berry and Steve Kelly will remain with the business, having signed three-year employment agreements.

DBK will join RPS鈥� BNE:Europe division where it is expected to help grow the firm鈥檚 project management capability.

DBK has grown rapidly in recent years, picking up major projects across the UK, particularly in Birmingham, like the revamp of the Mailbox shopping centre (pictured, top), and in London, including the luxury Manhattan Loft Gardens residential tower in Stratford (pictured, bottom), east London.

In its last set of financial results for the 2015 calendar year DBK posted an adjusted pre-tax profit of 拢2m. The company was owned by 14 shareholders, including a significant external investor.

RPS paid the vendors 拢6.6m on completion and settled 拢4m of shareholder loans to the company. Two further sums of 拢1.2m each will be paid to the employee vendors on the first and second anniversaries of the transaction.

Topics