McBains Cooper emerges as new Currie & Brown suitor

Multidisciplinary firm McBains Cooper has emerged as a surprise new suitor for embattled consultant Currie & Brown.

QS News understands preliminary talks have taken place between the two firms, although it is as yet unclear whether a formal offer has been made, or whether it was for a full-blown takeover or a merger. Sources close to C&B claim talks were held earlier this summer.

The deal would be a major step for McBains, whose turnover of £11m is about a third of C&B’s. Chief executive Michael Thirkettle told QS News in March that his firm was planning an acquisition.

A source close to McBains, which employs QS, PMs engineers and architects, claimed the difference in turnover between the two firms was not a major hindrance. “It is well documented that they (McBains) are looking for acquisitions. Size is not an issue – it’s just about bringing two firms together.”

It is well documented that McBains is looking for acquisitions. Size is not an issue – it’s just about bringing two firms together

Source close to McBains

A C&B statement would not comment on potential interest from McBains. It said: “C&B does not comment on speculative gossip. The business is committed to growing its service lines of project management, cost management, building surveying and management consultancy both in the UK and internationally.” McBains would not comment on the possible bid.

News of a fresh suitor for C&B follows the company refusing an offer from engineering giant Sinclair Knight Merz last month.

It is understood that SKM’s interest in a possible takeover dates back to the start of the decade. This stemmed from the two firms working together in Australia, where the 5,000-strong engineering group was founded.

A senior market source said: “A relationship was built up some years ago. There was a keenness on both sides to explore closer ties.”

I don’t think SKM is going to go hostile or get into a Dutch auction. I think they will move on

Senior market source

The source added that the talks had gone no further after Angus McLean was made chairman at C&B in 2002. McLean has since left the firm.

SKM’s interest in C&B is believed to have waned since the knockback from C&B management. “They were surprised at the immediate refusal of the offer without any discussions. I don’t think they are going to go hostile or get into a Dutch auction. I think they will move on,” the source said.

C&B also confirmed in a statement this week that three former bosses who left to join SKM – Bill Booker, Myles Cameron and Ian McCallum – were “summarily dismissed”. This was “for gross misconduct following an investigation into allegations that they had disclosed confidential information to a third party and had attempted to induce other employees of C&B to leave the company”. The statement added: “A full disciplinary process was undertaken, and a finding of gross misconduct was made in relation to each of them. Following their dismissals, each lodged a claim of unfair dismissal with the Employment Tribunal. They abandoned their claims which have been withdrawn.”