Further acquisitions considered
Paragon in £22m turnover merger with Bond Davidson
New team: Robert Perry, John Munday and Matthew Dunn
Building and project consultancy Paragon has merged with Bond Davidson to create a £22m turnover business employing almost 200 people.
The combined business is currently advising on projects with a total construction value of £5 billion and is now one of the UK’s largest independent building and project consultants.
In addition, the new company believes that its combined project monitoring offer will be the biggest of its kind in the UK, with 50 people advising on projects with a construction value of £3bn.
The businesses will continue to operate as Paragon and Bond Davidson in the short term following the merger before aligning under the Paragon brand in November.
They have indicated that further mergers or acquisitions are being considered. The shareholders of both businesses will be shareholders in the merged company.
Paragon joint managing directors, John Munday and Robert Perry, and Bond Davidson managing directors, Malcolm Davidson and Matthew Dunn, have known each other for more than 20 years.
The principals believe the merged company’s combined offer will provide existing and potential clients with a much-wanted, larger scale viable alternative in the markets in which it operates.
Mr Munday said: “Paragon and Bond Davidson complement each other perfectly in terms of our respective project and building consultancy services and specialisms.
“We had a larger building surveying and due diligence offering whilst they had a larger project services offering. Together, we are significantly more skilled and able to advise a wider range of clients.”
Speaking on behalf of Bond Davidson, Matthew Dunn added: ath“We are all about relationships, so the same people will be looking after the same clients throughout. The unified brand will not have any adverse impact on our service delivery, it will only improve it.”
Paragon provides a range of services to clients either based or owning property in Scotland including Aberdeen Standard Investments, Rockspring Property Investment Managers, Tristan Capital, Ediston Real Estate and Oval Real Estate.
Bond Davidson was established 26 years ago in Esher, Surrey. The companies have respective turnovers of £14m and £8m, and employ close to 110 people and 80 people respectively.
The merged company’s services and specialisms now include building surveying, project management, project monitoring, quantity surveying, cost management, M&E consultancy, environmental consultancy, occupier services, drone surveying, dispute resolution support services, rights of light and party wall services.