Thu, 23 Jul 2015 | BUSINESS SALE
KPMG has announced its acquisition of the assets of High-Point Rendel Ltd strategic management and commercial consultancy arms.
The business sale has gone through for an undisclosed sum and will see the majority of High-Point Rendel's 35 staff join KPMG's Major Projects Advisory Team.
Head of advisory at the accountancy firm, Richard Fleming, commented on the deal, noting that the acquisition should help with the management of KPMG's clients' “increasingly ambitious and complex projects”.
He added: “The High-Point Rendel team has more than 40 years’ experience advising on some of the world’s largest and most high-profile projects, helping businesses to plan and avoid costly delays and over-runs.
“This acquisition marks a step-change for KPMG both in the UK and globally, enabling us to advise clients at every stage of their megaprojects, from initial planning to final delivery and through operations and maintenance, disposal or renewal.”
Kelvin Hingley, chief executive of High-Point Rendel, will run the new joint practice, along with the managing director of High-Point, Nigel Bell and KPMG partner Gordon Shearer. Consultancy will also be provided to KPMG by chairman of High-Point, Sir Alan Cockshaw.
Sir Alan noted that the acquisition will enable the creation of a single organisation that combines “expertise and experience to provide valuable solutions at any stage of a project life cycle”.
In December 2014 KPMG announced five per cent growth in revenues, putting revenue at £1.909 billion for the financial year to 30 September 2014.
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