Gateley snaps up East Midlands surveying practice in £6m deal
Gateley, the professional services group, has bought Nottingham- and Leicester-based Richard Julian and Associates, trading as RJA Consultants (RJA), in a deal worth £6m.
Established by founder and managing director, Richard Julian, RJA is a chartered surveying practice, providing quantity surveying and project management services. It specialises in affordable housing.
Richard Julian and directors Steven Collin, Liza Julian, Hardeep Kooner and Chris Clubb will continue to work as part of the RJA management team post-acquisition.
The company employs around 50 staff based in Nottingham and Leicester.
In the financial year ended 31 March 2023, RJA generated revenue of around £3.9m, corporatised profit before tax of around £800,000 and organic revenue growth of 65% against the prior year.
Gateley will pay initial consideration of £3.93m. This will be made up of £2.03m in cash and £1.9m by the allotment and issue of new ordinary shares of £0.10 each in Gateley.
Rod Waldie, CEO of Gateley, said: “I am delighted to welcome the team from RJA, who are already well known by our colleagues in Gateley Smithers Purslow. There are common threads between the two teams and across our Property Platform, bringing opportunities to increase market share, as well as target new markets and workstreams. They have considerable expertise in the construction market and specifically in resilient sectors such as affordable housing and insurance services.
“RJA has a strong track record of growth, excellent relationships with clients, a dedicated and positive culture and an ambitious management team, qualities which closely match Gateley’s business and culture.”
