Gateley, the professional services group, has acquired Richard Julian and Associates Limited, trading as RJA Consultants, in a deal worth up to £6 million.
The deal includes, subject to certain revenue targets being achieved, an earn out based on the EBITDA achieved in each twelve-month period expiring 31 March 2024 and 31 March 2025.
Established by founder and Managing Director, Richard Julian, RJA is a chartered surveying practice, providing quantity surveying and project management services across a variety of construction sectors. It specialises in the provision of these services to organisations that deliver affordable housing, a resilient sector which is underpinned by high levels of grants to support delivery of the Government’s housing targets.
Richard Julian and directors Steven Collin, Liza Julian, Hardeep Kooner and Chris Clubb, will continue to work as part of the RJA management team post acquisition.
The company employs approximately 50 staff based in Nottingham and Leicester.
In the financial year ended 31 March 2023, RJA generated revenue of c.£3.9 million, corporatised profit before tax of c.£0.8 million and organic revenue growth of 65% against the prior year.
Rod Waldie, Chief Executive Officer of Gateley, said: “I am delighted to welcome the team from RJA, who are already well known by our colleagues in Gateley Smithers Purslow.
“There are common threads between the two teams and across our Property Platform, bringing opportunities to increase market share, as well as target new markets and workstreams. They have considerable expertise in the construction market and specifically in resilient sectors such as affordable housing and insurance services.
“RJA has a strong track record of growth, excellent relationships with clients, a dedicated and positive culture and an ambitious management team, qualities which closely match Gateley’s business and culture.”
