Mouchel Parkman - Bolsters its property offering with HBS
acquisition
Mouchel Parkman’s £46.24 million acquisition of HBS
today has significantly strengthened its professional
property offering.
HBS is a leading provider of support services and
transformational change to local government and
education with an un-audited turnover of £124.1 million
in the financial year ended 31 March 2007. It employs
3,000 staff across the UK.
HBS offers a wide range of property-related services
including facilities management; building design and
project management; and asset management all of which
complement Mouchel Parkman’s existing capabilities. The
company has around 395 staff working on property-related
activities.
HBS’ managed service contracts, which following the
acquisition will continue to be led by the existing HBS
Partnership Directors, fit well alongside the Group’s
existing portfolio of long-term contracts and help to
facilitate the Group’s move into larger and longer-term
relationships.
The acquisition of HBS further consolidates the Group’s
ability to respond to the expanding market for ‘bundled’
service strategic partnerships using in-house resources.
The two companies already have an established
complementary relationship working together in a £300
million 12-year strategic services partnership in
Oldham. They also recently won preferred bidder status
for the 10-year ISiS partnership with Somerset County
Council, both as subcontractors to IBM.
The number of Mouchel Parkman employees will rise to
around 11,000; bringing the company closer to realising
its strategic objective to grow the company to 15,000 by
2012.
Commenting on the news, Richard Cuthbert, Chief
Executive of Mouchel Parkman plc said:
“This is a great development for Mouchel Parkman. The
deal represents a significant step, supporting the
strategy laid out in our Corporate Plan, the outcome of
which is a business two or three times our current size
by 2012.
“HBS is a great fit for us, bringing a range of
complementary skills and clients. They have good people,
all of whom have a very similar background and culture
to many of our existing workforce. We know them well,
having worked together successfully for the last couple
of years.
Peter Manning, Chief Executive of HBS said:
“We are delighted with this deal. Having spent the last
three years stabilising and then starting to grow HBS
again, the company is in ideal shape to join forces with
Mouchel Parkman, a business that we know and respect.
“Our key partnership contracts have completed their
early investment phase and, with good relationships in
place, they provide a tremendous platform and set of
reference sites to take the business forward. I am very
pleased to be handing over the reins to Mouchel Parkman
who I am confident will take the business on to the next
level and offer our staff both security and
opportunity.”
Email:
melanie.bright@mouchelparkman.com
Arundel Jones Associates Ltd
Hill Farm, Linton Hill, Maidstone, Kent ME17 4AL
Tel : 01622 745333
news@buildingdesign.co.uk
Registered in England and Wales No. 07334149
News Categories : Planning and development
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Planning
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