Quantuma advises Croftstone and Drumacross on landmark merger
Business advisory firm Quantuma has advised engineering consultancies Croftstone Management Limited and Drumacross Limited on their merger to create a larger, better-capitalised group with enhanced capabilities to support clients and drive growth. On 6 February, Drumacross completed the acquisition of Croftstone in a non-cash transaction, effectively merging the two businesses. The combined business will operate under the Drumacross name moving forward.
The transaction brings together the two complementary consultancies as a single infrastructure consultancy group with a shared commitment to excellence across quantity surveying, commercial management, and project management. This will enable Croftstone and Drumacross to leverage the technical expertise, sector knowledge and client relationships of both organisations.
Quantuma’s team acted as lead financial adviser to the parties, enabling the combined business to invest further in its people, systems and service offering while delivering high-quality infrastructure advisory solutions.
Tony Cave from Croftstone said: “This merger represents an exciting step in Croftstone’s journey. Bringing our infrastructure consultancy business together with Drumacross will allow us to build a best-in-class consultancy group with real scale. This move broadens our capabilities and allows us to continue to deliver outstanding service to our clients. I am delighted to be working alongside Conall and the Drumacross team as we take the business forward together.”
Conall Reddin from Drumacross commented: “Joining forces with Croftstone creates a stronger platform for our business, our people and our customers. There is a clear strategic and cultural fit between the two infrastructure consultancies, and we see significant opportunities to grow and innovate as part of a larger group. I look forward to working closely with Tony and the Croftstone team to realise the full potential of this merger.”
The Quantuma team was led by Scott Peters and Finlay McLoskey.
Scott Peters from Quantuma responded: “We are delighted to have supported Croftstone and Drumacross on their landmark merger. This transaction brings together two high-quality businesses with complementary strengths and strong leadership teams, providing a robust platform for long-term growth. It has been a pleasure working with Tony, Conall and their teams to help structure and deliver a solution that supports their strategic objectives.
Croftstone was advised by Paul Bennett at Ansons Law and Deborah Spence at the CFO Centre. Drumacross was advised by Andrew Glaze and Mat Harvey at TLT assisted by a cross-firm team including Matt Shephard and William Ngan.
Paul Bennett from Ansons Law stated: “The merger of Croftstone and Drumacross was a strategic move which needed to be carried out in a fairly short period of time. We are pleased that we were able to achieve this for Tony and Conall, and we wish them all the success in this new stage
Andrew Glaze from TLT added:“We are delighted to have acted on the merger of these two high quality and complementary businesses, and we look forward to seeing the enlarged group go from strength to strength. As ever it was great to work with Scott and the team at Quantuma.”
The parties will now focus on integrating the businesses and ensuring a smooth transition for employees, customers and suppliers.