Styles&Wood has now acquired The GDM Group as it continues to diversify and expand. The acquisition enhances Styles&Wood’s expertise in engineering and professional services and will provide opportunities to broaden its work with new and existing clients.
The Group has acquired the entire issued share capital of Kent-based GDM for an initial consideration of £4 million in cash and shares, with up to £3.1 million payable as deferred consideration.
Incorporated in 2001, GDM, which is headquartered in Dartford, employs more than 50 staff. It specialises in providing engineering and project management services in business-critical environments to property owners across sectors including retail, education, commercial offices and data centres.
The GDM management team has over 90 years’ experience working with a range of blue-chip customers throughout the UK and Europe. All GDM employees will remain employed by the business, which will be positioned within the wider Styles&Wood Group.
Tony Lenehan, chief executive officer at Styles&Wood, comments: “There is a clear trend in the market towards multidisciplinary service provision for blue-chip clients, and this acquisition builds upon the strength of both businesses, as experts in project delivery in live environments.”
Gary Draper, director at GDM, adds: “We truly believe that this is an exciting move for GDM. The business is in great shape and coming under the Styles&Wood umbrella will provide the company and all of our employees with greater opportunities for development and an even stronger platform, both operationally and financially, for growth in the years ahead.”