THE DIVESTMENT CAMPAIGN
Our Client – The Vendor
Founded in 1995, QLD-based frc environmental (“FRC”) is a boutique environmental consultancy offering a wide range of capabilities relevant to the assessment, management, and remediation of aquatic ecosystems. It brings together one of Australia’s largest teams of multi-disciplinary water scientists, covering the spectrum of marine, freshwater, and estuarine environments. Offering the highest standards of program design, data analysis, and advisory services, FRC is a trusted supplier to a wide mix of Australian enterprises spanning the private sector as well as regulatory bodies, scientific institutions, and all levels of government. For these organisations, the credibility of the research output and advice they receive is critical to their ability to make sound management decisions, to gain necessary permits, and to effectively plan & execute their own works. Consistent YOY growth and high levels of repeat sales reflect the calibre of FRC’s services.
After 30+ years building the Business, FRC’s founding directors sought a succession strategy to support future growth, while allowing them to transition to part-time roles focused on technical leadership in their respective areas of expertise. They engaged Johnsons to undertake an international campaign on their behalf, seeking a strategic acquirer for the Business.
The International Sales Strategy
As a rare mid-sized firm, with the scale and track record necessary to winning and managing major works, FRC represented an attractive opportunity for prospective buyers. A positive outlook for ongoing future growth was underpinned on the one hand by strong demand drivers for environmental consultancy services and, on the other, by the strength of the Business’s positioning – featuring deeper subject-specific expertise and local market knowledge than available through competing large-scale engineering firms.
Johnsons Corporate’s custom research & marketing focused on identifying other Australian and international consultancies with capabilities in aquatic ecosystems. Secondary target segments included more generalist environmental and engineering consultancies as well as industrial services providers and testing & inspection firms servicing the same projects &/or end-markets. Johnsons’ proactive direct marketing campaign uncovered a range of interested parties, predominantly from the primary research segment. It elicited 40+ expressions of interest. Further vetting and negotiations resulted in the selection of a preferred buyer, with Offer and Acceptance secured within only 8 weeks of going to market.
(Read more about how using a Specialised Mid-Market Business Broker Approach to selling your business could get you a better outcome – just like our client).
The Multinational Acquirer
SLR Australia is a subsidiary of UK-headquartered SLR Consulting Limited, a global leader in the provision of sustainability solutions. This acquisition will further enhance its existing ecology and biodiversity capabilities, while building on a previous expansion of aquatic ecology services in Western Australia and on long-standing marine science capabilities in New Zealand.