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Drees & Sommer, a market leader in the European property and construction markets, has secured an initial minority investment in UK construction consultants AA Projects in its bid to reinforce its services in the UK and expand into Ireland.
From this month, AA Projects will join forces with Drees & Sommer, under the new tag ‘AA Projects-Delivering Excellence with Drees & Sommer’. As part of this agreement, Drees & Sommer intends to complete the 100 per cent purchase of the share capital in AA Projects by the end of the 2023 calendar year.
Drees & Sommer has 46 locations in Europe, the Middle East, China and the Asia Pacific, with over 4,000 employees worldwide and an annual turnover of €517.2 million (£429.8 million) in 2020. It has expertise in all aspects of project and construction management, real estate design and engineering consultancy, alongside a range of specialist services focussed on technology and smart buildings, and has a strong client base in private sectors, like the automotive, ICT, life sciences and property companies, with key clients including Mercedes, Siemens, Nokia, Roche and BMW.
A team of 200 employees run AA Projects property and construction consultancy business from six locations across the UK. It has a respected client base in both the private and public sectors, including in education, residential and healthcare industries. Historic and current clients include DHL, Starwood Capital Group, UK Parliament, University of Manchester, Manchester University NHS Foundation Trust, Lancashire Teaching Hospitals NHS Trust and the University of Oxford.
Through its investment in AA Projects, Drees & Sommer will be provided with opportunities for greater access to the UK and Irish markets complementing AA Projects’ existing business plan.
Steffen Szeidl, CEO, Drees & Sommer said: “We already have two offices in the UK, but our investment in AA Projects will provide significant opportunities to expand our UK business. With this merger, our clients will gain the best of both worlds-the German heritage for quality, precision and engineering combined with the UK’s reputation for flair and innovation in a respected regulated environment. This will cement our position as a leader in sustainability and digitisation, providing opportunities for clients on both sides of the Channel and further afield.”
Kenneth Wood, Managing Director, AA Projects added: “This partnership will provide us with the springboard to expand in existing sectors and markets in the UK where we already have an excellent reputation. It will also enable us to combine our strong public sector expertise with Drees & Sommer’s high reputation in the private sector, not only in mainland Europe but across the world. Drees & Sommer has a set of values and a vision aligned with our own, together with the opportunity to provide long term stability, growth for our business and career progression for our people. We are excited about the opportunities ahead.”
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