MHA Corporate Finance team lead the Tax & Financial due diligence in the acquisition of leading North West construction consultancy by US firm, Otak
August 11th 2022
The MHA Corporate Finance Team lead the tax & financial due diligence in the acquisition of Walker Sime by US firm, Otak
On 1 July, Walker Sime announced a new partnership with the US-based design and project management firm Otak and London-based K2. Both firms are members of the HanmiGlobal (HG) group of companies.
HanmiGlobal’s investment in Walker Sime will enable growth and advance Walker Sime’s strategic goals including growing capabilities in Manchester, Liverpool and Leeds and provide a true national-level presence in the UK in conjunction with K2’s London office. Joining the HG Group will strengthen Walker Sime’s ability to deliver larger and more complex projects throughout the UK and beyond.
Established in 1999 by Dez Walker and Jon Sime, Walker Sime has become one of the North West’s most well-respected construction consultancies. Working across public and private sectors on projects ranging from large scale infrastructure commissions to landmark regeneration schemes, the business provides Quantity Surveying, Project Management, Employer’s Agent, Commercial Consultancy, Dispute Resolution, Bills of Quantities and Construction Design and Management in virtually every sector.
In 2011, HG took a similar investment in Otak to expand the capability with clients in the US, HanmiGlobal is the 9th largest global project management and construction management firm, as ranked by Engineering News Record. Otak manages investment relationships for HG across North America, the UK and Europe. The acquisition of Walker Sime compliments their earlier acquisition of K2, a London based construction consultancy firm, giving the group a strong UK wide construction offering.
The MHA Finance team led by Corporate Finance Partner, Justin Moss, alongside Corporate Tax Partner, Gareth Peters delivered both financial and tax due diligence services to help facilitate the smooth transaction.
Justin Moss and Gareth Peters commented on the deal;
‘This is a great acquisition led by Otak and continues HG’s development into the UK market. We are delighted to have advised Otak in this transaction and are sure that the partnership of Otak and Walker Sime will flourish over the coming years. We look forward to working with Otak again in the future.’
