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Having been approached by PwC to support a Partner hire for their Capital Projects & Infrastructure practice in the Middle East, we quickly established with the client that they would also be interested in inorganic growth opportunities via acquisition to add immediate top-line value without client restriction.

Accordingly, as part of our search activity we specifically looked to identify the main shareholders within privately owned firms that were regarded as local market specialists in the field of engineering delay analysis.

One such company was HLP Consulting, and early in our initial engagement with Principal Director, Mike Harding, it became evident that their ambitions and those of PwC could potentially align. Bailey Montagu quickly moved to follow-up with Mike and his fellow shareholders to establish key data points on the business and their ambitions for the future. Following several iterative sessions, it was agreed that an initial informal introduction would be made to PwC, where soon after a more formalised M&A process commenced.

Throughout, Bailey Montagu remained close to PwC and the key stakeholders at HLP to act as both an informal sounding board and a conduit to the relevant commercial and legal levers to ensure a successful outcome for both parties. After a 6-month period of exclusivity to formalise negotiations, PwC concluded the acquisition of the 25-person HLP Consulting business on 1st May 2016, immediately adding $10m to their top line and placing them as the largest and most reputable expert witness outfit in the Middle East Capital Projects market.