Pan-European real estate adviser Drees & Sommer is stepping up its presence in the UK with the acquisition of a minority stake in UK construction consultant AA Projects.
The deal paves the way for a full merger by the end of 2023, when Drees & Sommer intends to purchase 100% of the share capital in AA Projects.
The initial stake will enable Drees & Sommer to service clients across seven locations in the UK. In addition, the partnership is aimed at giving the firm a springboard for expansion into Ireland.
Steffen Szeidl, CEO of 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.’
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 mln in 2020.
The firm offers all aspects of project and construction management, real estate design and engineering consultancy, alongside a range of specialist services focused on technology and smart buildings. It has a strong client base in the automotive, ICT, life sciences and property sectors, with key clients including names such as Mercedes, Siemens, Nokia, Roche and BMW.
The Stuttgart-headquartered company prides itself on being at the forefront of European digitisation and sustainability trends. It applies the ‘Cradle to Cradle’ design philosophy to real estate which addresses raw material scarcities, ultimately paving the way towards a circular economy. The firm has delivered a number of energy-efficient and zero-carbon buildings across Europe.
AA Projects is a UK property and construction consultancy with six locations across the UK, employing 200 staff. It is active in both the private and public sector, including in the education, residential and healthcare industries.
Kenneth Wood, managing director of AA Projects, said: ‘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.’
He added: ‘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.’
Photo L-R: Sascha Hempel, Partner, Drees & Sommer; Ken Wood, Managing Director, AA Projects; Michel de Haan, Partner, Drees & Sommer
