Mechanical and electrical building services consultancy Terence Lee Partnership is being bought by engineering consultant Scott Wilson Group for £1.3 million, the companies have announced.
Terence Lee patner Mark Ham said his firm would head the m&e activities of Scott Wilson’s metro division amid a boom in the light railway and metro industry in the UK and abroad. The two firms have worked together on London Underground projects for more than six years.
“We have a long association so this is just a natural progression,” Mr Ham said. “There will be no job cuts, quite the reverse we are taking all permanent and contract staff with us and we are looking to recruit.”
Terence Lee was founded in 1978 and last year had revenues of £800,000. Its staff will move to Scott Wilson’s headquarters in Victoria, London following the acquisition, which is expected to complete on June 6 following an employee consultation.
Geoff French, executive chairman of Scott Wilson, said the purchase would “further strengthen our metro ability and enable us to take advantage of the growing international markets in this sector.”
“We have already worked with Terence Lee Partnership for a number of years and look forward to building on an existing successful working relationship in providing a greater range of services,” Mr French added.
The acquisition will see Scott Wilson pay £1 million in cash with a further £300,000 payable in two instalments, subject to certain conditions being met.
Scott Wilson has more than 6,000 staff and a worldwide network of 80 offices. Its main international centres are in China, India, the Middle East, South-East Asia, Eastern Europe and Southern Africa.