Contracting group has bought a majority stake in consultant Source8
Contracting group Mitie has acquired a majority stake in 拢4.5m-turnover real estate consultant Source8.
Source8 offers, real estate, technology and reisk management consultancy services, particularly in emerging markets.
Mitie鈥檚 stake has been bought for 拢2.95m, although this could rise up to a total of 拢15.5m depending on Source8鈥檚 financial performance over five years.
Ruby McGregor-Smith (pictured), chief executive of Mitie, said: 鈥淲e are delighted to have acquired a majority shareholding in Source8. This acquisition will enable us to significantly build upon our consultancy services offering and complement the services we already provide for our clients.鈥�
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