9th July 2014
Dow Schofield Watts, acted as corporate finance adviser to the shareholders of PROjEN, the project management and engineering solutions business, on its sale to Capita Plc, the UK leader in business process management and outsourcing solutions.
PROjEN, whose head office is based in Preston Brook, Cheshire, employs over 100 staff, providing a wide range of design, engineering and management services in the pharmaceutical, environmental & legislative compliance, manufacturing and bio energy markets.
In a press release, Simon Birchall, executive director of design and management at Capita stated that “PROjEN is an excellent cultural fit for our business and reflects our commitment to expansion through the acquisition of strong and innovative businesses that allow us to enter new markets and provide new technological solutions to our clients. PROjEN is a well-established, innovative business in key target markets for us and I welcome its staff to our business.”
Martin Seabrook, managing director of PROjEN said: “We are delighted and excited to be joining Capita. Working as part of a major consultancy will allow us to invest in the future growth of our business, further develop our staff, and expand our capabilities into new markets”.
Commenting on Dow Schofield Watts’ advisory role, John Taylor, chairman of PROjEN said: “DSW quickly found potential acquirers, but just as importantly they also identified those who matched the shareholder’s requirement. Not all the shareholders were exiting the business and DSW were able to understand the deal drivers for all the individuals involved and arrive at a compromise.
Overall it was a very professional performance and one that was seen as successful for all parties.”
Terms of the transaction are undisclosed.
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