Gateley buys Tozer Gallagher for up to £700,000
Legal and professional services group Gateley has bought Tozer Gallagher, a practice of chartered quantity surveyors and construction consultants, for a up to £700,000.
Tozer Gallagher will join the Gateley Vinden business, which was acquired last March.
The initial payment of £600,000 will be made in cash. There will also be a deferred £100,000 payment based on the business' financial performance in the 12-month period following completion of the deal.
The company said the acquisition will enable Gateley Vinden to widen the scope of its existing built environment consultancy and fund monitoring services.
Chief executive Rod Waldie said: "This acquisition sits within the diversification part of our strategy to establish complementary services that support our Platform strategy. We believe there is also an opportunity for Gateley Vinden, incorporating Tozer Gallagher, to collaborate further within our well-established Property Platform and we are looking forward to supporting their future development in line with our growth plans."
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