Baqus not interested in picking at Pettifer carcass

Baqus is at the “coffee stage” of discussions with several consultancy and quantity surveying groups that offer the potential of being acquired.

Despite speculation about Baqus being a possible buyer of PCM - where a deal must be done by the end of this week as a result of its owner, Pettifer Group, having fallen on uncomfortable times - that particular name is not on the Baqus shopping list.

Clive Sayer, chief executive, says: “We are more interested in stuff with a low profile and there are a lot of opportunities out there.

“There are players who see that if they do nothing for the next two years they will go slowly downwards, people who are realising that size helps.”

The coffee-stage talks have been with “a few decent names that have either shrunk or are still running with the same turnover as 20 years ago”. Sayer explains: “With their founder gone, the current management team sees that they have inherited a good profile but are wondering what to do next.

“The government is talking of pumping money into construction projects and smaller businesses are not comfortable about their prospects of sharing in this.”

There are businesses out there that are bigger than Baqus who could be acquired, the problem with that approach is that Baqus wants to stay in control of its business philosophy and client approach.

“Taking on smaller players means we are sure that we will end up with user-friendly teams who have the same outlook as us,” said Sayer.

At the group’s annual meeting today, chairman Roger Knowles, said: “Baqus has successfully won consultancy frameworks for the East London NHS Trust and the Royal Borough of Kensington & Chelsea.

“There has been a steady flow of new projects including work for the £360m redevelopment of Hemel Hempstead town centre (client advisory), the Portsmouth Continental Ferry Terminal and a commission for Harefield Academy.”