David Trench has pocketed around £500,000 from the sale of his firm Trench Farrow last month to White Young Green. Trench owned 23% of the project management company, which is understood to have been up for sale for two to three years. Trench, who was chairman of Trench Farrow, is due to retire next autumn when he reaches 65.

The majority of the remainder of Trench Farrow was split between three directors, Tom Farrow, Paul Springay and Alan Moore. A minor holding was with the company secretary. The three directors are tied into working for WYG for two years.

The acquisition deal, worth £4.5m, was split into £2.25m in cash and £2.25m of shares in WYG. Trench Farrow posted pre-tax profits of £926,654 on turnover of £3.3m for the year to 30 June 2006.

Moore said: “There comes a point in the life of a business when a number of issues come to the fore. This was about a combination of David (Trench)’s age and various business pressures. We knew we could do more for our staff and our clients with the backing of a bigger firm.”

Moore said his team was likely to bid for multidisciplinary contracts now it could draw on the resources of WYG, which include QSing and engineering.

He added he believed the Trench Farrow name would “disappear in due course”.

WYG bought Tweeds for £11m in March and Irish firm Nolan Ryan in June. Trench Farrow was formed in 1978 and employs 33 staff in Swindon and London. It specialises in corporate fit-out and urban regeneration.

Its current projects include the new IPC Media HQ in London and the refurbishment of the Guildhall Estate for the Corporation of London.

Source

QS News