RAG-Stiftung buys majority stake in Pell Frischmann
Engineering consultancy Pell Frischmann has been taken taken over by RAG-Stiftung (Foundation) Investment Company. RAG-Stiftung has bought a majority stake having acquired the shareholdings previously owned by the Frischmann family and part of the Prabhu family.
Jürgen Wild, managing director of RAG-Stiftung Investment Company and incoming Chairman of Pell Frischmann, said: "Our strategy is to invest in market leading firms with an international reach and a strong existing management team that delivers steady returns and growth. Pell Frischmann fits our criteria perfectly. A highly respected engineering consultancy that has an enviable reputation of combining cutting edge technical expertise with superior customer service."
"I am committed to support the team growing the business both in UK and abroad."
Dr Wilem Frischmann, who is stepping down from his role as Pell Frischmann chairman to take on an advisory role to the incoming chairman, added: "Throughout my career I am honoured to have worked with some of the best engineering minds on some of the world's most exciting engineering projects. Pell Frischmann has grown to become one of the most respected consultant engineers in the business, and I am delighted that we have found an investment partner to help continue this legacy and provide an ideal platform for further growth".
Pell Frischmann has led the design of construction projects including Centre Point in London, the refurbishment of the Bank of England and the University of Oxford's New Bodleian Library and the Forth Rail Bridge Restoration. Overseas projects include Delhi Airport, India's Low Carbon Smart Cities and one of the biggest rebuilding projects in Iraq, the Mid-Western Water Supply project.
In the UK, it is has framework with Wessex Water, South West Water, Thames Water and United Utilities.
RAG-Stiftung Investment Company is a long-term investor aiming for sustainable development and acquiring stakes in market leading firms in four key sectors, namely consultancy, automation, machine manufacturing and high-tech services.
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