RPS Group plc has acquired DBK Partners Limited for £13 million. Consideration paid to the vendors at completion was £6.6 million. In addition £4.0 million of shareholder loans to the company were settled by RPS. Subject to certain operational conditions being met, two further sums of £1.2 million each will be paid to employee vendors on the first and second anniversaries of the transaction.
Founded in 2005, DBK has its headquarters in Birmingham, with other offices in London, Manchester and Bournemouth. The company is a project management consultancy in the UK and employs about 120 staff. It undertakes projects primarily for private sector clients in the property development industry in the UK.
The company was owned by 14 shareholders, including a significant external investor. All the employee shareholders are remaining with the business. The three main director shareholders have signed three year employment agreements.
In the year to 31 December 2015, DBK had revenues of £12.1 million and profit before tax of £2.0 million, after adjustment for non-recurring items. Net assets at 31 December 2015 were £0.5 million. Gross assets at 31 December 2015 were £8.1 million.
UK, Abingdon, Oxfordshire & Birmingham
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