The corporate finance team at RSM North East has advised on the sale of property asset management and planning consultancy North Associates to WYG plc.
WYG plc, the global programme, project management and technical consultancy, today announced the acquisition of the entire issued share capital of North Associates (Cumbria) Limited together with its subsidiary Taylor & Hardy Limited for a maximum total consideration of £5.0m.
Operating from offices in Carlisle, North Associates provides specialist property asset management consultancy services which maximise the value of land and property for its clients, who include commercial developers, public sector bodies and regional landowners. Taylor & Hardy Limited is a well-established local planning consultancy which was acquired by North Associates in 2012.
This acquisition further establishes WYG’s status as one of the largest property asset management and planning consultancy businesses in the UK. It also positions WYG to benefit from some of the anticipated £90bn of investment planned as part of the development of Britain’s ‘Energy Coast’ in West Cumbria, where WYG also expects to use some of the planning skills developed as part of its work elsewhere in the nuclear sector.
The corporate finance team at RSM who advised North Associates on the sale included Tony Edwards and Les Jackson.
North Associates managing director Andy Ross said: ‘We are extremely grateful to the team at RSM for supporting us through the sale process and we are excited about the growth prospects for our business as part of WYG plc.’
Tony Edwards, corporate finance partner at RSM North East commented: ‘It has been a pleasure to work with North Associates and to support the company’s shareholders throughout the sale process. This deal puts the company into a very strong position as it looks to take advantage of new opportunities in the Cumbria region.’