Equiteq has acted as corporate finance advisor to TSA Management, a portfolio company of Quadrant Private Equity, on its acquisition of Henry Riley, a UK-based project management and quantity surveying business, marking the expansion of the Australian-based company beyond the Asia-Pacific and into the UK and Europe.
TSA will see its employee base expand from 650 to almost 850 with a global footprint now reaching across the UK and Asia Pacific. Established in Sydney in 2001, TSA already operates across Australia, New Zealand and Malaysia, with more than 150 clients across 12 sectors and $200 billion worth of projects under management.
Henry Riley has a proud 130-year history in the UK and has 190 employees across 9 locations. Its clients include Bupa, Amazon, Ikea and the NHS and its property offerings include retail, residential, logistics, healthcare and airports.
TSA Management Chief Executive Officer Andrew Wilson said the cultural and regulatory similarities between the UK, Australia and New Zealand made it an obvious location for expansion.
“We are really pleased to be launching TSA Management into the UK and we see great synergies in not only the project landscape but also the objectives, cultures and operations of both Henry Riley and TSA,” Mr Wilson said.
“We are confident that these synergies and the continued diversification and enhancement of our capabilities, services and geography offer fantastic opportunities for our clients, our business and our people.
“By joining forces with these established and highly respected names in the UK, we propel our business forward and continue the momentum we have created in recent times through a combination of organic and strategic, purposeful growth.”
Regarding Equiteq’s role in the transaction, Stacie Gibbons, GM Growth & Development said: “The Equiteq team provided valuable support all the way through the acquisition process helping us to smoothly navigate through a very complex cross-border transaction. They were a pleasure to work with and we were glad to have them on our team.”
Alex Monck, Managing Director, ANZ at Equiteq added: “It has been a privilege to advise Quadrant Private Equity backed TSA Management on its first major acquisition beyond the APAC region. We are very proud to have played a role in a very significant strategic move for TSA. We look forward to seeing TSA Management continue on its exciting growth trajectory.”
TSA Management was also supported by Minter Ellison as legal advisors.