Thanks to ICFG UK, RIDGE secures significant growth from Horizon Capital
Horizon’s investment supports Ridge in delivering the next phase of its ‘Quality, Innovation and Growth’ vision, which sets a strategy for expanding expertise and nurturing talent in a progressive way. The success of this strategy is clear in Ridge’s recent expansion from 577 people and £61 million turnover in 2020 to 1,000 people and a forecast £105 million turnover in 2023 across its 12 UK offices. Strategic acquisitions in the last three years have included Scott Hughes Design and Projex.
Ridge’s broad multi-disciplinary offering to clients, which includes depth in architecture, building services, engineering, planning, surveying, sustainability and transport, will be accelerated by investing in talent across its core disciplines as well as a continuation of Ridge’s strategy to augment growth through new acquisitions.
It is envisaged that acquisitions will complement Ridge’s existing practices and develop new services to enhance its track record of strong client relationships. Strategic opportunities include the digital revolution, the net zero carbon and social impact agendas and changing ways of living, working and learning.
HMT acted as lead advisors on the transaction which included assessing the strategic options for the Partners, negotiating detailed investment terms, financial modelling, due diligence support and project managing the deal to a successful completion.
Adrian O’Hickey, Senior Partner at Ridge commented: “We are delighted to be partnering with Horizon. This transaction will act as a catalyst for some of the most ambitious change in our strategy and will help accelerate our long-term growth objectives. HMT achieved a fantastic result for the Partners, supporting the us throughout the entire process. Their professionalism, unwavering dedication and deal-making expertise were instrumental to getting the deal concluded in a timely manner. We would like to thank Andrew, Ricky and Motti for their hard work in helping to bring this transaction to a successful completion.”
Luke Kingston, Partner at Horizon Capital commented: “Horizon is providing the first institutional capital to Ridge in its 75-year history. Its partners have already taken opportunities for sustained growth in recent years, and we will help them to be even more ambitious in the firms and talent they reach out to. HMT were firm but fair in their negotiations and their drive to move the deal forward resulted in a timely and successful completion for all parties.”
Andrew Thomson commented: “We are delighted to have advised Ridge’s Partner team on such a transformational deal for the business. Ridge’s growth to date is underpinned by the quality of the service it provides its clients and its broad range of expertise within the built environment. With a strong focus on the professional services sector and a demonstrable track record for supporting acquisitive growing businesses, Horizon Capital is the perfect partner for Ridge and with their support I am confident the business will achieve its ambitious growth strategy. We look forward to working with Ridge and Horizon in the future as the business develops and grows.”