Croftstone and Drumacross complete engineering consultancy merger
UK engineering consultancies Drumacross and Croftstone have completed a merger to create a firm of more than 60 professionals. Both parties were advised on the deal by professionals from Quantuma, Ansons Law, CFO Centre, and TLT.
Conall Reddin from Drumacross commented, “Joining forces with Croftstone creates a stronger platform for our business, our people and our customers. There is a clear strategic and cultural fit between the two infrastructure consultancies, and we see significant opportunities to grow and innovate as part of a larger group. I look forward to working closely with Tony and the Croftstone team to realise the full potential of this merger.”
Founded in 2018, Drumacross is a professional services organisation working across the public and private sector asset infrastructure markets, from offices in St Albans and Manchester. Established in 2011, Croftstone Management is a multi-disciplinary management consultancy providing end-to-end support for large scale infrastructure programmes, and based in Stratford-upon-Avon.
With Drumacross’ acquisition of Croftstone Management, the combined firm will bring together two complementary engineering consultancies to create a larger group. The non-cash deal effectively merges the two businesses, while the combined operation will trade under the Drumacross name.
Tony Cave from Croftstone added, “This merger represents an exciting step in Croftstone’s journey. Bringing our infrastructure consultancy business together with Drumacross will allow us to build a best-in-class consultancy group with real scale. This move broadens our capabilities and allows us to continue to deliver outstanding service to our clients. I am delighted to be working alongside Conall and the Drumacross team as we take the business forward together.”
Deal advisors
Business advisory firm Quantuma advised Croftstone Management and Drumacross on their merger. Quantuma’s team led by Scott Peters and Finlay McLoskey acted as lead financial adviser to the parties, enabling the combined business to invest further in its people, systems and service offering while delivering infrastructure advisory solutions.
Peters noted, “We are delighted to have supported Croftstone and Drumacross on their landmark merger. This transaction brings together two high-quality businesses with complementary strengths and strong leadership teams, providing a robust platform for long-term growth. It has been a pleasure working with Tony, Conall and their teams to help structure and deliver a solution that supports their strategic objectives.”
Croftstone was also advised by Paul Bennett at Ansons Law and Deborah Spence at the CFO Centre. Meanwhile, Drumacross was advised by Andrew Glaze and Mat Harvey at TLT assisted by a cross-firm team including Matt Shephard and William Ngan.
Paul Bennett from Ansons Law stated, “The merger of Croftstone and Drumacross was a strategic move which needed to be carried out in a fairly short period of time. We are pleased that we were able to achieve this for Tony and Conall, and we wish them all the success in this new stage.”
Meanwhile, Andrew Glaze from TLT concluded, “We are delighted to have acted on the merger of these two high quality and complementary businesses, and we look forward to seeing the enlarged group go from strength to strength. As ever it was great to work with Scott and the team at Quantuma.”
