RG Corporate Finance has advised the owners of specialist property business, Austin Newport Group, in its sale to global project management, engineering and consultancy organisation Artelia Group.
Specialising in the recovery of damaged historic country houses, Austin Newport Group is based in Birmingham and was originally formed in 1986 by John Austin and Gary Newport in 1986.
The business comprises of three core divisions, offering chartered quantity surveying, management contracting and insurance recovery services and employs 25 staff.
It has grown to deliver large-scale restoration, refurbishment and development projects at some of the UK’s most famous buildings. In the past 30 years it has worked on more than 1,000 complex heritage building projects, ranging in value from £250,000 to £20 million. The company was recently appointed to work on extensive projects at St. Bart’s Hospital, Blenheim Palace and the Houses of Parliament.
The acquisition broadens Artelia Group’s existing capability in the UK, where its 105-strong team delivers multidisciplinary services in the areas of building construction, water, environment, energy, maritime, urban development, transportation and industrial facilities.
Advising the owners of Newport Austin Group was Nick Johnson, Corporate Finance Partner and Alex Simpson, Corporate Finance Senior Manager at Newcastle-based RG Corporate Finance (RGCF) with legal advice from Gareth John from Gateley plc in Birmingham. Tax advice was provided by RG’s Business Tax Partner Simon Whiteside and Director of Taxation Services Simon Hopwood.
Gary Newport, founder and managing director, Austin Newport Group, said: “We are very pleased to have concluded a deal with Artelia Group. This is a tremendous opportunity to be part of a much larger international business with a shared culture and ethos that offers exciting opportunities for our customers and our people.
“Artelia is a recognised global brand that will give us greater credibility and depth, and provide an improved service offering to our clients. A London base will ensure that we are in close proximity to major loss adjusters and insurers and provides a stronger platform from which to grow.”
He added: “We are very grateful for the strategic support and advice we’ve received from Nick and his team at RGCF who have guided us throughout this process to ensure the best possible outcome for all parties.”
Nick Johnson, partner at RGCF, said: “As part of Artelia Group, Austin Newport Group has strong potential to scale its operations across the UK. Gary and his team have developed significant expertise in its specialist market, which will also be valuable to Artelia Group as it expands its presence across its core sectors.”