Confluence to grow in West Mids after MBO
Construction and compliance consultancy Confluence Management is to relocate its head office to Birmingham after undergoing a management buyout (MBO). The deal was supported by a £500,000 cash injection from venture capitalist Midven.
Birmingham-based Midven’s Exceed Fund said it will invest the cash to provide working capital to help fund the acquisition of Confluence Management from Confluence Group, the Singapore-based international construction management group.
Surjit Kooner, investment director for the Exceed Partnership, said: "Confluence has an excellent reputation in the marketplace and is well placed to take advantage of its high level of repeat business, its secured revenue and its specialist expertise.
"Here we have an established company that has a proven track record and as a separate group, will be able to respond much quicker to market changes and opportunities."
Confluence Management is to relocate its head office to Birmingham, where it already has an operational office, and retain its offices in London, Manchester and Glasgow.
The company provides construction management solutions from concept through to completion.
Recent projects completed include Park Lane (Intercontinental Group); One Hyde Park (including Heston Blumenthal and Daniel Boulud’s restaurants in the Mandarin Oriental Hotel) and the refurbishment of the Hyatt in Birmingham.
