LONDON, UK: Gateley, the professional services group, has announced the acquisition of Richard Julian and Associates Limited, trading as RJA Consultants (RJA), a chartered surveying practice, for up to £6 million.

The deal, which is subject to certain revenue targets being met, will see Gateley pay an initial consideration of £3.93 million, split between cash and shares, and a deferred consideration based on the EBITDA achieved by RJA in the next two years.

RJA, founded by Richard Julian, provides quantity surveying and project management services across various construction sectors, with a focus on affordable housing. It employs around 50 staff based in Nottingham and Leicester and generated revenue of c.£3.9 million and profit before tax of c.£0.8 million in the year ended 31 March 2023.

Gateley said the acquisition will complement its existing expertise in residential development and construction and strengthen its position in the affordable housing and property insurance markets. It also expects the deal to generate operational synergies and be immediately earnings enhancing.

Rod Waldie, Chief Executive Officer of Gateley, said:

“I am delighted to welcome the team from RJA, who are already well known by our colleagues in Gateley Smithers Purslow. There are common threads between the two teams and across our Property Platform, bringing opportunities to increase market share, as well as target new markets and workstreams. They have considerable expertise in the construction market and specifically in resilient sectors such as affordable housing and insurance services.

“RJA has a strong track record of growth and profitability and we look forward to working with them to further develop their business as part of the Gateley Group.”

Richard Julian, Managing Director of RJA, said:

“We are very excited to join Gateley, a group that shares our values and vision for the future. We believe that being part of Gateley will enable us to offer our clients a wider range of services and access new opportunities for growth. We have been impressed by Gateley’s culture, ambition and professionalism and we are confident that this is the right move for our business, our people and our clients.”

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