Liverpool civil engineering consultancy Sutcliffe has been acquired by Venn, a newly formed engineering group, with plans to increase turnover to over £10 million within three years.
Sutcliffe, which employs 70 people and marked its 40th anniversary last year, will join the Venn group of engineering businesses being built by Johannes Huttunen. The company will continue under the leadership of CEO Sean Keyes and its existing management team.
Background and operations
Sutcliffe provides chartered civil and structural engineering, building surveying, and geo-environmental services across housing, healthcare, education, and commercial development. Founded by John Sutcliffe in 1985, the firm operates in Liverpool, Manchester, North Wales, London, and the Midlands.
Venn, founded by Huttunen, who has over 20 years of dealmaking experience, describes itself on its website as building "a national champion in engineering services for the built environment through the acquisition of high-quality businesses in this sector." The value of the Sutcliffe acquisition has not been disclosed.
Leadership comments
Sean Keyes, CEO of Sutcliffe, said: "The demand on our industry isn’t going away. The country needs more homes, better schools and hospitals, and the engineers, surveyors, planners and skilled trades needed to deliver them."
Keyes added: "Sutcliffe has always been a Liverpool business at heart, but the work our clients need from us continues to grow. This partnership gives us the long-term backing to build on what we have achieved over the last 40 years. The things that matter most won’t change. We are the same firm, with the same people and the same values. We want to get the work done properly, train the next generation and continue contributing to the communities in which we work."
He also noted: "The company has plans to continue its strong organic growth steadily increasing turnover to over £10m over the next 3 years."
Venn's perspective and advisors
Johannes Huttunen, founder and CEO of Venn, said: "Sutcliffe is exactly the kind of business Venn was created to back. It has four decades of profitable trading, loyal clients across housing, healthcare and education, and a genuine commitment to training and developing its own people."
Huttunen added: "Engineering services for the built environment are being reshaped by the need for new homes, tighter regulation and the drive for greater energy efficiency. The businesses best placed to respond are those combining deep technical expertise with strong client and local relationships. Sutcliffe has both, and we couldn’t be more excited about partnering with Sean and the team to build on those foundations in the North West and across the UK."
Sutcliffe was advised by Andrew Moss at DSG Accountants and law firm Napthens, with Kieran Donovan as partner. Donovan said: "Our relationship with Sutcliffe, Sean Keyes and the shareholders goes back to the early 2010s, and during that time we have been fortunate to support them through some pivotal stages in the growth and development of the business. We are delighted to have been entrusted with advising them on this important transaction. With Sean and his management team continuing to lead the business, alongside significant investment, Sutcliffe is entering an exciting new phase of growth."
Andrew Moss, partner at DSG Accountants, added: "I’ve worked with Sean and the team at Sutcliffe for almost 15 years guiding them through three buyouts whilst they’ve experienced tremendous growth. It’s been fantastic to have been part of their journey and I’m absolutely delighted to have been part of this latest transaction. I wish Sean and the team all the best for the future."
