'An exciting new chapter for our firm': 161-year-old Northern Ireland construction consultancy enters new growth phase following sale of significant equity stake
Belfast-based construction consultancy, founded in 1865, strengthens growth prospects across health, education, commercial and residential sectors with strategic equity deal backed by Hennick & Company
Belfast construction consultancy WH Stephens can begin an ‘exciting new chapter’ of growth following the sale of a significant equity stake to an investment-backed acquirer.
WH Stephens was originally founded in 1865 and delivers multidisciplinary construction consultancy services across the whole of Ireland and parts of the UK, including project management, cost management, building surveying and quantity surveying.
The shareholders, headed by Denis McCotter, managing director, instructed KBS Corporate to seek strategic investment which could facilitate further growth, with a view to expanding the company’s presence and capability across a range of sectors. WH Stephens’ current portfolio spans health, education, commercial, leisure, residential and hotels.
In a transaction advised by Guy Haynes, KBS corporate director, WH Stephens has received investment from Gardiner & Theobald, a construction and property consultancy founded in 1835 which operates from a network of offices in the UK, US and Ireland.
Gardiner & Theobald (G&T) is backed by Hennick & Company, a Toronto-based private investment firm which is partnered with professional services companies operating in the architectural, building design and construction consultancy sectors.
“The investment from G&T represents an exciting new chapter for our firm, which we are confident creates the platform to grow further, take on more ambitious commissions and strengthen our presence across Ireland,” said Denis McCotter, WH Stephens’ managing director.
“We look forward to working closely with our new colleagues and exploring the opportunities this brings for our clients and our people.”
Denis and the senior leadership team will retain a significant equity stake in WH Stephens, remain in their current roles, and continue to have full autonomy over day-to-day operations. This ownership structure also provides a pathway for future generations of employees to become equity shareholders over time.
Adam Glover, managing partner of Gardiner & Theobald, added: “This investment in WH Stephens is an important milestone in G&T’s long-term growth in Ireland and complements our wider business in the UK and US.
“Together, we can expand our reach across Ireland, pursue larger and more complex public and private sector opportunities, and deliver an even higher level of expertise and value to clients.
“With a strong cultural fit, we are excited to work alongside WH Stephens’ talented team, learn from their deep local expertise, and support them to grow the business across all sectors of the built environment.”