Foreman Roberts, the building services consultancy, in £15m management buy-out

Stuart Alexander has led a £15m management buy-out of Foreman Roberts, the building services consultancy.

The deal, which is part of the company’s long-term succession plan, will see control transferred from Barry Shaw and Richard Kennedy to the eight-man mbo team led by managing director Alexander.

Alexander said: “It’s an exciting development though it is business as usual.”

Since Alexander took over the reins in 2004, the company’s profits have doubled. Venture capital player NVM has provided £7m of the funding.

Foreman’s specialism is M&E work for clients in the commercial and retail sectors. Names include Heron Group, Land Securities and Lend Lease.