The industrial services team at Transcend Corporate, which is led by Ian Curtis, has advised the shareholders on the sale of THDA Limited (“THDA”).
Ian Curtis and Harry Chen at Transcend Corporate led and negotiated the sale to the UK based multi-disciplinary consultancy, Patrick Parsons, for an undisclosed sum enabled by a multimillion-pound investment from private equity house LDC to fund its expansion which includes the acquisition of THDA.
THDA, based in Birmingham, specialises in the design of civil engineering infrastructure for development schemes such as major highways, roads, earthworks modelling and flood risk assessments. Acquiring THDA will further strengthen Patrick Parsons’ national capabilities in this market.
Commenting on the transaction, Paul Tinley and Stuart Hodgkiss, the vendors, said “We are delighted that THDA is joining Patrick Parsons, which is an exciting and fast-growing group of companies delivering solutions to blue-chip clients in the residential, commercial and infrastructure sectors. There is a substantial opportunity to accelerate our nationwide growth as a member of Patrick Parsons.”
Paul and Stuart also paid tribute to Transcend Corporate saying “We are delighted to have worked with Ian and his team on this project. Transcend Corporate has proved to be an excellent adviser, assisting us in matching us with the right acquiror, negotiating the right deal, and guiding us through a complex process to a successful completion.”
Ian Curtis, partner at Transcend Corporate, said “We are proud to have been able to help Paul and Stuart achieve this successful sale of THDA. This is a great deal for all parties, and we wish the business and all of its employees every success as part of Patrick Parsons.”
Peter Stienlet, managing director of Patrick Parsons, said “We have grown significantly and this is undoubtedly down to the hard work and commitment of our people. The acquisition of THDA is the next step on this journey and puts a marker in the sand for our commitment to the infrastructure sector. The move will allow us to enhance our presence in Birmingham and sees the firm establish itself as a fully multi-disciplinary practice.”
Ben Snow, investment director of LDC, said “The acquisition of THDA is an exciting development for both businesses. It allows Patrick Parsons to further strengthen its service line and create more opportunities for both its employees and customers in a market that shows strong growth prospects as infrastructure investment continues to rise.”
Transcend Corporate acted as lead adviser, Fieldfisher LLP, led by partner Graham Muth, acted as legal adviser, and Ray Abercromby of Smith & Williamson acted as tax adviser to the shareholders of THDA.