Dunedin Takes Stake
31 March 2015 Dunedin, the UK private equity firm, has taken a minority stake in Blackrock Expert Services.
David Barry, Principal of Blackrock Expert Services commented: Blackrock Expert Services has a distinctive quality and integrity service offering in our marketplace, which we are keen to grow and develop. Dunedin’s investment provides us the platform from which to expand our services, capacity and international reach. We will work alongside them to develop the infrastructure of our business and to create the very best operating platform to service our customers and clients both in the UK and internationally.
Blackrock Expert Services has increased its turnover tenfold from £1m to £10m between 2010 and 2014, and is expecting further significant growth in 2015. The Company, which is well-known for its planning/delay expert witness capabilities has recently extended into providing expert quantum services and Dunedin’s investment will be used to support an active expansion strategy, involving both organic growth and selective acquisitions. Blackrock Expert Services intends to expand its international focus and, following this investment, is planning to open new offices in Dubai, Singapore and other international arbitration centres.
Headquartered in London, Blackrock Expert Services was founded by experienced programme and construction manager David Barry (Principal) and employs c.50 people. The business is widely recognised as a market leader employing individual directors who are experts in their field. Blackrock Expert Services has worked on an extensive range of projects around the globe, including airports, roads, railways, power stations, process plants, manufacturing facilities, health and educational facilities and commercial buildings. Blackrock Expert Services’s growing customer base includes International Contractors, Government Agencies, Energy Companies and Developers. Blackrock Expert Services works with many of the world’s leading construction litigation law firms and barristers.
Dunedin will back the management team at Blackrock Expert Services, including directors Robert Palles-Clark, Austin Duffy, David Falkenstern, David Goodman, Joanne Prior, Richard Edwin, Neil Fitch, Ian Osbaldeston and David Barry.
Research published by Global Construction Perspectives and Oxford Economics forecasts that the volume of construction output will grow by more than 70% to $15 trillion worldwide by 2025. The number and value of litigation/arbitration cases is also increasing in the construction market.
London is widely recognised as the global centre for excellence in construction litigation and arbitration and demand for independent expert services is at a record high, with demand outstripping supply. There are over 200 new cases for arbitration and litigation in construction every year in the UK, Middle East and Africa, much of which are served by London based expert services.
Giles Derry, Partner at Dunedin who joins the board of Blackrock Expert Services commented: Blackrock Expert Services is a fast growing professional services business with an impressive management team, a strong brand and a reputation for providing the highest quality expertise to its global customer base. The construction dispute market is growing rapidly in tandem with increasing demand for independent expert services. This represents a great opportunity for a British business to export its first rate professional service to overseas markets that are rich in potential, and for Dunedin to draw on its considerable experience of helping businesses to achieve growth through international expansion.
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