12 September 2011
Confluence expands Birmingham Operations as part of MBO
One of the UK’s leading construction management and compliance consultancies is to expand its West Midlands operation as a result of a management buy-out (MBO) supported by Birmingham-based Midven.
Midven’s Exceed Fund is investing £500,000 to provide working capital to facilitate the acquisition of Confluence Management Limited from Confluence Group, the Singapore-based international construction management group. Confluence Management is to relocate its head office to Birmingham, where it already has an operational office, whilst retaining its offices in London, Manchester and Glasgow.
The company provides a complete construction management solution from concept through to completion and has considerable expertise and a strong reputation in luxury hotel refurbishment and development, higher education establishments and data centres.
The company’s clients include many household names including a major supermarket group, hotel groups and property consultancies. Recent projects completed include Park Lane (Intercontinental Group); One Hyde Park (including Heston Blumenthal and Daniel Boulud’s restaurants in the Mandarin Oriental Hotel); the rebranding of the Park Inn (Rezidor Group); the Shard London and the refurbishment of the Hyatt in Birmingham.
Surjit Kooner, investment director for the Exceed Partnership, said: “Confluence has an excellent reputation in the marketplace and is well placed to take advantage of its high level of repeat business, its secured revenue and its specialist expertise. Here we have an established company that has a proven track record and as a separate group, will be able to respond much quicker to market changes and opportunities.”
Confluence managing director, Christian Bucknall, said the business was well connected and well respected. “We’re delighted that the Exceed Fund is backing our business which has a proven track record in the sector. We have ambitious plans and are confident with Midven’s help we can realise our full potential. We have developed an exciting pipeline of opportunities that have the potential to achieve solid growth,” said Mr Bucknall.
PICTURE CAPTION:
Left to right:
Surjit Kooner from Midven with Christian Bucknall MD and
Rob Goemans FD of Confluence and Adam Percival an associate of Shakespeares.