I noted with interest the comment in the Hansom column (14 December, page 27) that we at Baqus must hate Turner & Townsend for stealing our thunder by announcing the day before our flotation that it was planning to do the same.

This is far from the truth. Well-run companies such as Boxall Sayer, Fletcher McNeill and Denley King, who came together to form Baqus, are long-established, debt-free firms that are making good profits and therefore will always attract interest from investors.

Our flotation was successful and I wish Turner & Townsend the same with its listing. When it has done so, it will be the third QS in public ownership. I am sure this trend will continue, as medium-sized firms, which are too small to be big and too big to be small, expand for fear of being squeezed out. I believe that by the beginning of 2010 the number will be nearer 20.

Roger Knowles, Baqus

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