Springboard is delighted to announce that it has advised the shareholders of Copeland Wedge Associates Limited on the sale of the company to RSK Group Ltd.
About the deal
Formed in 2011 by directors David Copeland, Steve Wedge and Jim O’Donnell and based in the heart of Birmingham within the Jewellery Quarter, CWA is a contemporary consulting civil and structural engineering practice. Employing 39 people, CWA provides high quality engineering expertise to a broad range of public and private sector clients operating in commercial, healthcare, education, retail, industrial and residential verticals. Recent projects include the Oculus building at Warwick University, the London Taxi Company’s new HQ at Coventry and the refurbishment of 55 Colmore Row in Birmingham.
CWA has been acquired by leading national environmental and engineering services group RSK. Backed by Permira Debt Managers, RSK works globally and turns over more than £150 million. CWA will join RSK’s Geotechnical and Engineering Division with the transaction seeing RSK’s headcount rise to over 2,300 in 85 offices worldwide. The founding directors of CWA will continue to drive the business forward and CWA will retain its brand.
The shareholders of CWA were advised on the sale by Ben Bolt and James Bailey. Ben commented “We are thrilled to have assisted Dave, Steve and Jim to both crystallise value and find a partner with shared values, a supportive ethos and excellent fit in terms of client base and complementary services. The sale of a human capital operation requires real sensitivity and understanding to get the right outcome. We wish all parties all the best for the future.”
How we made a difference
- Maximised unencumbered consideration, a key shareholder requirement;
- Protected the autonomy of the business and its brand; and
- Project managed the deal through a two month exclusivity period
Steve Wedge, Director - Copeland Wedge Associates
We worked with Springboard over an extensive period to find the right strategic partner for our business. They enabled us to remain focussed on the business and supported us through an intensive due diligence process. With confidentiality high on our agenda it was rewarding to get to the finishing line with the integrity of the deal and process intact.