Private investment firm swoops for engineering consultancy
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Patrick Parsons, which provides engineering consultancy services to commercial, industrial and housing developers, has been acquired by private investment firm Rcapital.
The firm, which has its head office at St.Paul’s Square in Birmingham, also has offices in London, Wakefield and Ashvale.
Despite the pandemic, the business has seen a strong performance, increasing new business by over 80% Q1 2021, compared with the same period last year.
It has won several new key contracts this year, including long-term client Berkeley Group, which includes multiple residential developments, including Woodberry Down and The Green Quarter, and industrial expansion projects for AB InBEV, the world’s largest brewer.
Other wins include Walton on Trent Bypass, Derbyshire, where Patrick Parsons is providing infrastructure design and traffic and transport planning. For Stepnell, it is providing civil and atructural consultancy for a five storey, 120-unit residential development situated on a former gasworks in Newbold Road, Rugby.
The firm has also announced it is recruiting a minimum of ten new engineers so that it can service growing work levels from both existing and new clients.
It is planning to add an additional five engineering apprentices, who will join the apprentices already working across the business.
Gail Bamforth, CEO of Patrick Parsons, said: “We have a new partner and investor in Rcapital, which puts us in a strong position financially and provides significant momentum behind our ambitious growth strategy and plans for the future.
“I am very pleased that the growth strategy is already paying dividends with the business performing well, and levels of secured work have already returned to pre-pandemic levels. We have also secured some fantastic new mandates and have more opportunities in the pipeline.”