Surrey-headquartered surveying firm Hutton + Rostron bought by SOCOTEC
Guildford-headquartered surveyors Hutton + Rostron, which is specialised in investigating problems in buildings, has been sold to SOCOTEC, the testing and inspection giant, advised by Berkshire's BCMS - the corporate finance advisor.
The sale was reportedly aimed at establishing Hutton + Rostron as "the sole UK company" offering end-to-end services for all building types, including commercial, residential, industrial and listed.
READ MORE: Corporate finance firm BCMS becomes majority employee owned
H+R Rostron, founded in 1966, comprises a team of independent scientific building experts and surveying consultants.
Building pathology, in which the company has over 30 years' experience, is described as the study of building defects, building decay and building performance failure.
"Taking the decision to sell a business is never easy, especially when that business has been in the family for decades," James and Tim Hutton of H+R reportedly said.
"However, we knew that in order for H+R to reach its full potential, new ownership and strategic direction was required – and what better partner to deliver this than SOCOTEC, an international player with the resources to take the company to the next level?"
They added that BCMS had "prepared" them extensively for the sale process, "identified a range of potential acquirers, led the negotiation process, and maintained momentum at all times".
As well as corporate finance advice from BCMS, the shareholders of H+R received legal advice from DMH Stallard.
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