Engineering consultancy Patrick Parsons has been acquired by private investment firm RCapital.
The business – which operates from four sites including its headquarters in Birmingham, London, Wakefield and Ashvale – offers multi-disciplinary engineering consultancy services to commercial, industrial and housing developers.
It has enjoyed a strong start to the year after recording an 80 per cent increase in new business compared to the same period last year.
It has also won a string of new key contracts with clients including Berkeley Group and projects such as the Walton-on-Trent Bypass in Derbyshire and a five-storey, 120-unit residential development on a former gasworks in Newbold Road, Rugby.
Patrick Parsons says the acquisition forms part of an ‘ambitious new growth plan’ to unite all parts of the business – and its 115 employees – under a single entity.
It is also looking to recruit a further 10 staff in the coming months and five new engineering apprentices.
Gail Bamforth, CEO of Patrick Parsons, said: “We have a new partner and investor in Rcapital, which puts us in a strong position financially and provides significant momentum behind our ambitious growth strategy and plans for the future.
“I am very pleased that the growth strategy is already paying dividends with the business performing well, and levels of secured work have already returned to pre-pandemic levels. We have also secured some fantastic new mandates and have more opportunities in the pipeline.”