National full-service commercial law firm Gateley has acquired Birmingham-based specialist property consultancy Hamer Associates in a £2.05m deal.
Hamer Associates, to be renamed Gateley Hamer, is the second acquisition Gateley has made since the Group’s admission to AIM in June 2015. In April, the firm acquired specialist property business Gateley Capitus.
Founded in 2000 by chairman Charles Hamer, who together with managing director Jonathan Stott has more than 55 years’ combined experience in the property industry, Hamer Associates specialises in providing expert advice across the UK relating to easements and wayleaves for utilities infrastructure, and compulsory purchase and compensation.
The easements and wayleaves team advises property developers on negotiations in relation to the removal of utility infrastructure (pylons, cables, pipes) from development sites, and negotiates compensation for loss of development value where that infrastructure remains in-situ.
The compulsory purchase and compensation team advises project promoters on all aspects of compulsory purchase, from initial consultation through to settlement of claims; facilitating housing, regeneration, infrastructure and energy projects. The team also represents landowners and businesses affected by compulsory purchase, for example High Speed 2, Crossrail and Thames Tideway Tunnel.
In the year ended 31 March 2016, Hamer Associates generated revenues of £1.2m and operating profit of £292,000.
The acquisition of Hamer Associates is consistent with Gateley’s IPO growth strategy to acquire businesses offering complementary professional and other specialist services across the firm’s five business groups, including property. It will also enhance Gateley’s ability to support its property clients by offering them specialist commercial property services.
Gateley Hamer will sit alongside Gateley’s national property business, which acts for developers, including 17 of the UK’s top 20 housebuilders.
Michael Ward, CEO of Gateley, said: “Hamer Associates is the second acquisition we have made post-flotation in our strategy to bring complementary and specialist services in to the Group.
“Hamer’s first-class reputation and acknowledged expertise has generated an impressive list of both private and public-sector clients and we are excited about the new opportunities the acquisition brings to both Hamer and the wider Gateley group.”
Charles Hamer, founder and chairman of Hamer Associates, said: “We are excited to be joining Gateley and look forward to delivering an enhanced service offering to our clients.
“We are looking forward to growing both our easements and wayleaves and compulsory purchase and compensation teams as we continue to increase our market share in both sectors.”