Baqus snaps up Nigel Rose

BAQUS, the quantity surveying and project management business, has acquired the Warrington-based Nigel Rose Group.

In a stock market statement Baqus said the value of the deal would be based on Nigel Rose’s adjusted net assets ay June 30 and will be paid in cash before September 30, 2010.
 
The Nigel Rose business was established in 1964 as a firm of chartered quantity surveyors and operates from four offices in London, Cheltenham, Wokingham and Warrington. Around a third of its work was in the residential sector last year but revenue also came from healthcare, transport and education.
 
In the nine months to December 31 the business reported a profit of £246,062 before members’ remuneration and profit shares on fee income of £1.2m. Net assets at 30 December 2008 were £158,469.

Baqus’ chief executive Clive Sayer, said: “Working closely with the key people at Nigel Rose, we have identified a number of areas where we can expand the business while, at the same time, reducing costs. More importantly, it will increase the number of sectors in which we have a significant presence and I am confident that it will make a good addition to the Baqus Group.”

Baqus was formed from the merger of three quantity surveying business: Boxall Sayer, Denley King and Liverpool-based Fletcher McNeill. Last year the group acquired the Brian Hannaby Partnership, also based in Liverpool.