Dispute firm drives CMC deal

Driver Group, a provider of commercial and dispute resolution services to the construction industry, has completed its first acquisition since it joined AIM more than two years ago.


Driver Group, a provider of commercial and dispute resolution services to the construction industry, has completed its first acquisition since it joined AIM more than two years ago.

Driver Group, a provider of commercial and dispute resolution services to the construction industry, has completed its first acquisition since it joined AIM more than two years ago.

The group, which listed on the junior market in October 2005, has added Commercial Management Consultants (CMC), an engineering and construction consultant, to its portfolio for almost £3 million. The company was sold by CMC Group, with £1.5 million of the consideration paid in shares and the balance in cash.

The acquisition expands Driver’s pre and post-contract services and increases its expertise as well as adding new clients to its business.

CMC’s management remain with the company following completion with managing director Bob Parfitt becoming Driver’s executive director.

Driver chief executive Steve Driver described CMC as a good strategic fit with its operations. “The last year has been a period of investment for the group as we focused on scaling the business for further growth. We are now seeing the benefits of our drive to increase our fee-earning capability coming through in top-line growth and the addition of CMC’s consultants should help us to accelerate that.”

CMC has been providing site-based project services, such as quantity surveying and planning, to construction and engineering firms throughout the UK since 1979. The company has a presence in the rail, utilities, highways, building, water, airports and marine sectors. Its clients include UK contractors as well as blue chip organisations.

Dartford-based CMC also has offices in Ascot, Manchester and Glasgow employing some 40 fee earners. In the year to December 2007, it recorded revenues of £3.77 million and a £448,000 operating profit.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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