All 157 Partners to Remain Long-Term Owners | Brand, Independence & Legacy Maintained | Firm Poised for Continued Growth in the United Kingdom and Beyond
LONDON and TORONTO, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Gardiner & Theobald LLP ("G&T"), an independent construction and property consultancy with 1,400 professionals providing project management, cost management, infrastructure management and specialist consultancy across all sectors of the built environment announced today that it has completed a long-term strategic partnership with Hennick & Company, Inc. ("HennickCo"), a private firm focused on making long-term investments in well-managed, growth-oriented and scalable professional services firms. The new strategic partnership will preserve G&T's independence, brand and heritage while positioning the firm for continued growth and expansion throughout the United Kingdom, the United States, Ireland and beyond. For the 12 months ending 30th April 2024, G&T generated global revenues of GBP£292 million (US$379 million).
For G&T, this new partnership is an important step in the continued evolution of the practice since its founding in 1835 and will enable further growth and innovation while maintaining the firm's distinctive culture. This investment establishes a long-term partnership that sees G&T continue as a Limited Liability Partnership, ensuring that the next generation of professionals have the opportunity to become partners in the future. 100% of the equity partners of G&T voted unanimously to support the partnership, recognising the strategic advantages of this new collaboration and the wealth of experience that HennickCo will bring to accelerate the growth of the firm. G&T will continue to be known as "Gardiner & Theobald LLP" and all partners and employees will remain in their current roles to ensure no disruption to the delivery of G&T's World-Class Service to its clients - which remains paramount.
G&T's entire senior leadership team, including its Managing Partner, Adam Glover, will remain in their current positions with full autonomy and control over day-to-day operations to ensure that the culture of G&T endures for the organisation's talented professionals, clients and stakeholders. G&T will remain headquartered in the United Kingdom and will continue to operate under its current brand and in its present locations. As part of the transaction, HennickCo and G&T established a clear process by which the firm will expand its current ownership base over time to welcome the next generation of professionals into the partnership. This new structure will allow the firm to drive growth in its core markets and beyond while ensuring that G&T continues to attract and retain the world's most talented project and programme managers, cost managers, and other specialist advisors.
Adam Glover, Managing Partner of G&T, said "We are delighted to welcome HennickCo as a long-term investor and well aligned strategic partner. This provides G&T with an even stronger platform and significant financial strength to grow our business. HennickCo shares the culture, ethos, values and entrepreneurial spirit which is at the heart of G&T. Getting to know and learning to work with them over a number of months we have developed a unique partnership solution which we believe will benefit both organisations over the long term. Most importantly, we believe this new partnership will benefit our clients, strengthen our World-Class Service offering and provide even greater opportunity for our people in the years to come. Our equity partners were unanimous in their support for the new partnership and all partners will remain in their current roles."
Bradley Hennick, Managing Director of HennickCo, said, "We are honored to become a part of G&T's incredible nearly 200-year legacy and look forward to working with Adam and the rest of the senior leadership team and partners to strengthen the firm's market leading project management, cost management and infrastructure management platforms and position it for further growth and expansion. This transformational investment is yet another example of HennickCo's ability to craft bespoke, long-term, partnership transactions that maintain the brand, legacy and independence of high-performance professional services firms on a global scale."
Financial terms of the transaction were not disclosed.
ABOUT GARDINER & THEOBALD
G&T is a construction and property consultancy with 1,400 dedicated and highly specialised professionals committed to providing World-Class Service to its clients. Founded in 1835, G&T provides Cost Management, Project Management, Infrastructure Management and Specialist Consultancy across all sectors of the built environment. The firm is selectively international and operates from a network of offices in the United Kingdom, United States and Ireland. G&T is recognised as one of the leading consultancies in the sector and has delivered some of the world's most recognisable construction and property projects, including complex corporate office schemes, high-end residential and mixed-use developments, critical infrastructure, energy and utilities projects, five-star luxury hotels, resorts and restaurants, arts, heritage and cultural venues, innovative healthcare and educational institutions, and large-scale industrial, manufacturing, data centre and life-sciences facilities. To learn more about G&T, please visit www.gardiner.com
ABOUT HENNICK & COMPANY
Hennick & Company is a private firm that invests in growth-oriented professional services and human capital businesses for the long-term. Since its founding, HennickCo has made a number of bespoke, long-term investments in a variety of globally recognised, high-performance professional services firms. As a privately-owned company backed by permanent capital, HennickCo can invest with a long-term time horizon, in any geography, in privately owned or publicly traded businesses, and at any point in the economic cycle. The firm does not have pre-determined investment hold periods and operates in an entrepreneurial fashion. HennickCo's goal is to identify, invest in and participate in the growth of great professional services businesses in partnership with strong leadership teams and its investment partners. To learn more about HennickCo, please visit www.hennick.com.
