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James Cowper Kreston Corporate Finance advise Henry Riley LLP on its sale to TSA Management

22 May 2023

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We are pleased to announce our role as Corporate Finance and tax adviser to Henry Riley LLP, a UK firm of quantity surveyors and construction project managers, on its partnership with Australian firm TSA Management

Backed by Quadrant Private Equity, TSA is one of Asia Pacific’s leading project management and advisory consultancies, with offices in Australia, New Zealand and Malaysia. The addition of Henry Riley expands their employee base from 650 to almost 900 people across 24 offices and represents their first step into the European market. 

Henry Riley, which has a 130-year history in the UK, generated revenues of £17m last year. David Needham, Chief Executive, says he and Henry Riley’s Partners were motivated to complete the move by a desire to grow the business. “Not for the sake of growth alone, but for the value and opportunities growth creates for our business, and most importantly, our people. Getting to know the TSA business and people and understanding that their values are completely aligned with ours has enabled us to develop a true partnership approach, which is very important.”

Andrew Wilson, Chief Executive at TSA, said: "As a business, we are looking to diversify geographically, and feel that the UK generally, and Henry Riley specifically, are a fantastic fit from a cultural, regulatory and project perspective. We work in many of the same sectors and offer similar services, however we do have different areas of expertise – for example, Riley’s cost management experience is a growth opportunity for TSA. Understanding and growing from each other’s regional knowledge, specialties and experience will benefit us both. We believe there are many new and exciting opportunities for everyone as a result of this change, and we are keen to work together to create bigger and more exciting new opportunities that we hadn’t envisaged when we launched our 5-year plan."

The team at James Cowper Kreston Corporate Finance were led by Stewart Lambert and Jack Griggs with the support of Phil Snell (Corporate Tax Partner).

Stewart commented, “We are delighted to have advised Henry Riley LLP on this cross-border transaction. The team have a fantastic business and are a market leader in their sector. I believe they have found a great new home at TSA and am sure they will continue to go from strength to strength as they lead their expansion into Europe.”

David Needham, CEO of Henry Riley says, “We are grateful to Stewart and Jack from James Cowper Kreston for their commitment and expert guidance throughout the process. Their wealth of corporate finance knowledge and experience within the technical services sector was invaluable in navigating the complexities of the transaction and securing a successful outcome. I recommend James Cowper Kreston to anyone seeking expert advice and support in a similar venture.”