March 19, 2020 @ 11:58 by Richard Dawson
The corporate finance team at Ryecroft Glenton (RG) has advised specialist property business, Austin Newport Group, in its sale to global project management, engineering and consultancy organisation, Artelia Group.
Austin Newport Group specialises in the recovery of damaged historic country houses and was originally formed in 1986 by John Austin and Gary Newport in Birmingham.
The company employs 25 staff and offers chartered quantity surveying, management contracting and insurance recovery services.
It has grown to deliver large-scale restoration and refurbishment projects on some of the UK’s most famous buildings.
Having worked on more than 1000 complex heritage buildings with values ranging from £250,000 to £20 million, the company was recently appointed to work on projects such as St. Bart’s Hospital, Blenheim Palace and the House of Parliament.
Austin Newport’s sale to Artelia Group broaden the multi-national’s capability in the UK, where an already 105-strong team deliver services in building construction, water, environment, energy, maritime and transportation.
Advising from Newcastle-based RG were Nick Johnson, corporate finance and Alex Simpson, corporate finance senior manager.
Gary Newport, founder and managing director of Austin Newport Group, said: “We are very pleased to have concluded a deal with Artelia Group.
“This is a tremendous opportunity to be part of a much larger international business with a shared culture and ethos that offers exciting opportunities for our customers and our people.
“Artelia is a recognised global brand that will give us greater credibility and depth, and provide an improved service offering to our clients.
“A London base will ensure that we are in close proximity to major loss adjusters and insurers and provides a stronger platform from which to grow.”
Nick Johnson, partner at RG Corporate Finance, added: “As part of Artelia Group, Austin Newport Group has strong potential to scale its operations across the UK.
“Gary and his team have developed significant expertise in its specialist market, which will also be valuable to Artelia Group as it expands its presence across its core sectors.”