RSK Group

From Wikipedia the free encyclopedia

RSK Group Ltd
Company typePrivate company
IndustryEnvironmental services
Founded1989
HeadquartersHelsby, England
Key people
Alan Ryder (CEO)
Revenue£1.22bn (2023)[1]
Number of employees
10,530 (2024)[1]
Websiterskgroup.com

RSK Group is a privately held UK-based environmental, engineering and technical services group, comprising over 175 companies employing some 10,500 people and with turnover of £1.22bn in 2023.

History

[edit]

RSK Group was established in 1989 in Aberdeen by Alan Ryder,[2] and has grown both organically and through an accelerating programme of acquisitions.[3] Today based in Helsby in Cheshire, it aimed to become Europe's largest privately owned environmental and engineering business with a £1 billion turnover and employing 10,000 people worldwide by 2025.[3] RSK has acquired over 70 businesses in six years from 2016.[4]

In the year to April 2021, RSK's turnover reached £350.5m, up from £274.8m the previous year, and made a pre-tax loss of £18.9m, having made interest payments to backers of £22.8m.[4] In the year to April 2022, RSK made a fifth consecutive pre-tax loss, of £38.1m, on a turnover of £796m inflated due to its dozens of acquisitions. It made £39.9m in interest payments.[5]

In August 2023, RSK announced plans to raise £500m from sales of shares in the business. Supplementing around £500m from Ares Management, this would provide £1bn to fund further acquisitions. It aimed to raise headcount to 40,000 by 2030, expanding internationally in Australia, Europe, Asia, Latin America, Africa and the Middle East.[6]

In the year to April 2023, RSK grew its revenues over 50%, to £1.22bn. Pre-tax losses doubled to £81m, after £74m in interest payments. Founder and CEO Ryder said the group was on track to achieve £5bn revenue by 2030. By March 2024, having completed 24 further acquisitions, RSK employed 10,530 staff.[1]

In June 2024, RSK secured £500m (and an additional £300m debt facility) to fund further strategic takeovers. The investment came from a consortium led by Searchlight Capital Partners and Ares Management Corporation funds. RSK aimed to increase turnover from £1.2bn to over £5bn by 2030, and to grow to 400 businesses.[7]

Acquisitions

[edit]

Following a number of early acquisitions including Structural Soils (2007),[8] Dynamic Sampling and JB Site Investigations (both 2016),[9] RSK Group made its first large acquisition with ADAS in late 2016.[10] ADAS was the UK's largest independent provider of agricultural and environmental consultancy services, bringing with it a then 300-strong workforce that made the RSK Group one of the largest environmental consultancies in the UK in 2016.[11]

In May 2017, the company acquired Acies Civil and Structural, followed in June by the acquisition of KMGP Ltd. In December, RSK completed a trio of deals, acquiring C.J. Associates Geotechnical Ltd, Up and Under Group Ltd and all outstanding (80%) shares of RSKW Ltd.

2018

In 2018, after securing a £140m funding package in the form of a unitranche senior debt facility from funds managed by Ares Capital Europe (Ares)[12] to make around 10 acquisitions, RSK acquired Manchester-based acoustics consultant Cole Jarman[13] and Washington, UK-based 108-strong site investigation specialist Ian Farmer Associates (£10m annual turnover).[14] Specialist ecological and grounds maintenance business, Twig Group, also joined RSK Group in 2018[15] along with Non-Destructive Testing Services and Copeland Wedge Associates. In October 2018, RSK acquired CAN UK Holdings. In December 2018, the business acquired J&A Pelling, Pelling and Pellings LLP.

2019

In February 2019, the business acquired Dr Tillmans & Partner GmbH. RSK completed the acquisition of tbf Contracting and BTS Group,[16] and in March the group acquired Headland Group and Drilling Supplies.[17] In April RSK acquired Consents Solutions, followed by Biocensus (renamed RSK Biocensus) and AA Milieu-En Adviesbureau BV in May. In June, the business acquired all share capital of Raw Technology (renamed RSK Raw), followed by Geocore Site Investigations in August and Ecologia Environmental Solutions Holdings in September. In October the business acquired ATP Architects + Solutions and Silcock Leedham Group.

2020

In February 2020, RSK acquired Salix River & Wetland Services and a month later in March, acquired consultancy Nicholas O'Dwyer,[18] and Morrison (Falklands). In September, the business acquired WRc (formerly the public-funded Water Research Centre).[19] In December 2020, RSK acquired Black & Veatch's 1,200-strong UK and Asia water and environment businesses, and rebranded it by resurrecting the historic Binnie brand.[20][21]

2021

In early 2021, RSK acquired CAS Ltd[22] CR Civil Engineering (200 staff), the Enviresearch group (19),[23] and EDP Health, Safety and Environment Consultants (50),[3] and in April, RSK Orbital, SkyVision International, The Scan Station, and Smith & Kennedy Architects.[24] In May 2021, the business announced a quartet of acquisitions: UK planning and landscaping services provider Stephenson Halliday, UK chartered surveyor Waldrams, German geotechnical consultants Althoff & Lang GbR and New Zealand risk management company Quality Solutions International (QSI).[25] In June, RSK acquired Ireland-based Minerex Environmental.[26] In July, in its tenth deal of the year, it acquired UK specialist geotechnical contractor TechnikGS.[27] In August RSK acquired CS2 chartered surveyors[28] and Leap Environmental.[29]

In August 2021, RSK agreed the largest private credit backed, sustainability-linked financing deal on the market to date with Ares European Direct Lending serving as sole lenders of £1 billion available debt facilities to boost the growth of the business.[30] The new debt facilities include an annual margin review based on the achievement of sustainability targets, which are broadly focused on carbon intensity reduction and continual improvement to health and safety management and ethics.[31] RSK anticipates interest savings in excess of £500,000 per year and has committed to donate a minimum of 50% of this margin benefit toward sustainability-related initiatives or charitable causes.[31]

In September 2021, RSK acquired 800-strong, £200m turnover UK water business MWH Treatment,[32] formerly part of MWH Constructors[33] along with EiB and Electrokinetic.[34] In November 2021, RSK announced six acquisitions; renewable ground pump technologists Carbon Zero Consulting, water specialists Envireau Water, specialist waste management Enviroflow, traffic management services business Streetwise,[35] surveying and engineering services business Centara[36] and tree surgery and management company Hi-Line Contractors S.W.[37] In December 2021, RSK made three acquisitions: Optisol Services, a solar farm maintenance and civil works contractor; Non Entry Systems Limited, which makes automated equipment for cleaning of difficult access areas; and ATV Contract Services, a landscape management firm.[4]

2022

In January 2022, RSK took over Singleton Clamp & Partners, a transportation planning, highway and drainage consultancy with 45 employees in Manchester, Leeds and London. In February, RSK acquired Fishtek, a Devon-based consultant specialising in marine environments and designing fish passes. In March 2022, RSK took over Ireland's 26-strong Inis Environmental Consultants, and UK-based Richard Allitt Associates[4] and 70-strong M&E specialist Ceetech.[38]

In May 2022, it was announced RSK had acquired the France-based environmental consultancy company, ADEV Environment.[39] In August 2022, RSK acquired 125-strong UK scaffolding contractor MG Scaffolding,[40] and Cardiff-based facilities and environmental services management company MSS Group.[41]

In September 2022, RSK announced the acquisition of Milestone Communications, specialists in civil, electrical and mechanical engineering for telecoms and renewable energy suppliers,[41] South Wales-based Spencer Group, an environmental services and geotechnical contractor,[42] and specialist infrastructure communications firm Copper Consultancy.[43] In October 2022, it acquired civil, structural, geo-environmental and engineering consultant Travis Baker.[44] At this point, RSK Group comprised over 175 companies, employing 10,000 people.[42]

2023

In January 2023, RSK acquired 260-strong temporary site services specialist WysePower.[45] In June 2023, RSK acquired a 400-strong UK rail track repair and renewal contractor, 1stInRail.[46] In August 2023, RSK acquired the Aberdeen-based specialist energy engineering services company, PD&MS.[47] In September 2023, RSK acquired Ireland's Larsen Water Management and Global Infrastructure Group, a £50m turnover railway contractor active in the UK and Ireland.[48] In October 2023, RSK acquired 125-strong Jedburgh-based civil engineering contractor RJT Excavations.[49]

2024

In August 2024, RSK acquired EB7, a London-based property consultant specialising in planning issues related to daylight and sunlight.[50]

References

[edit]
  1. ^ a b c Morby, Aaron (4 March 2024). "Acquisitive RSK tops £1.2bn turnover". Construction Enquirer. Retrieved 4 March 2024.
  2. ^ Begum, Shelina (7 December 2016). "£10m funding for RSK Group to support long-term growth plans". Manchester Evening News. Retrieved 3 September 2021.
  3. ^ a b c "CEO question time: Alan Ryder, RSK - part I". Environment Analyst. 15 March 2021. Retrieved 3 September 2021.
  4. ^ a b c d "RSK perseveres with acquisition strategy". The Construction Index. 9 March 2022. Retrieved 10 March 2022.
  5. ^ "Fifth year of pre-tax losses for RSK". The Construction Index. 9 February 2023. Retrieved 9 February 2023.
  6. ^ Morby, Aaron (8 August 2023). "Acquisitive RSK looks to raise £500m through stake sale". Construction Enquirer. Retrieved 8 August 2023.
  7. ^ Morby, Aaron (17 June 2024). "RSK secures £500m for fresh acquisitions spree". Construction Enquirer. Retrieved 18 June 2024.
  8. ^ "RSK merges with Structural Soils to become the UK's number one site investigation company". Environmental Expert. 4 May 2007. Retrieved 2 December 2021.
  9. ^ "RSK Group becomes UK's largest site investigation provider | Permira Credit". www.permiracredit.com. Retrieved 2 December 2021.
  10. ^ "RSK Group plc acquires ADAS to add agricultural and additional environmental services to its portfolio • RSK • Engineering and Environmental Consultancy". RSK. Retrieved 2 December 2021.
  11. ^ "RSK buys ADAS". Environment Analyst Global. Retrieved 2 December 2021.
  12. ^ "RSK Group raises financing from funds managed by Ares Capital Europe and announces acquisitions of bts and tbf • RSK • Engineering and Environmental Consultancy". RSK. Retrieved 1 December 2021.
  13. ^ "RSK goes private". The Construction Index. 4 January 2018. Retrieved 3 September 2021.
  14. ^ Ford, Coreena (8 January 2018). "Washington's Ian Farmer Associates snapped up by global business RSK". ChronicleLive. Retrieved 3 September 2021.
  15. ^ "Sale of Twig Group to RSK Group". Castle Corporate Finance. Retrieved 3 September 2021.
  16. ^ "tbf Contracting join forces with RSK". tbfTraffic. Retrieved 3 September 2021.
  17. ^ "New Era For Drilling Supplies As Established Group RSK Acquires Business From Long-Term Owner". Business Up North. 8 May 2019. Retrieved 3 September 2021.
  18. ^ "RSK acquires again, expanding domestic and overseas footprint". Environment Analyst. 27 March 2020. Retrieved 3 September 2021.
  19. ^ "RSK scoops up WRc in ongoing acquisition campaign". Environment Analyst. 4 September 2020. Retrieved 3 September 2021.
  20. ^ Morby, Aaron (20 December 2020). "RSK swoops for Black & Veatch UK and Asia water ops". Construction Enquirer. Retrieved 3 September 2021.
  21. ^ "RSK set to acquire B&V's UK and Asia water & environment business". Environment Analyst. 18 December 2020. Retrieved 3 September 2021.
  22. ^ "RSK bolsters specialist access provision after rapid growth • RSK • Engineering and Environmental Consultancy". RSK.
  23. ^ "Chemistry Right For RSK Group's Acquisition of Newcastle's Enviresearch". RMT. Retrieved 3 September 2021.
  24. ^ Robinson, Jon (13 April 2021). "RSK Group acquires four new businesses as international reach grows". BusinessLive. Retrieved 3 September 2021.
  25. ^ "RSK continues its strategic expansion with further growth in the UK, Germany and New Zealand • RSK • Engineering and Environmental Consultancy". RSK.
  26. ^ "RSK Group continues expansion in Ireland • RSK • Engineering and Environmental Consultancy". RSK.
  27. ^ "RSK Group Ltd acquires TechnikGS". Private Equity Wire. 6 July 2021. Retrieved 3 September 2021.
  28. ^ "CS2 chartered surveyors join the RSK Group • RSK • Engineering and Environmental Consultancy". RSK.
  29. ^ "Leap Environmental joins RSK Group • RSK • Engineering and Environmental Consultancy". RSK.
  30. ^ "RSK secures funding boost from Ares Management Corporation in largest private credit backed sustainability linked financing to date • RSK • Engineering and Environmental Consultancy". RSK. Retrieved 1 December 2021.
  31. ^ a b "Ares Management Corporation Leads £1 Billion of Available Debt Facilities to RSK Group in Largest Sustainability Linked Private Credit Financing to Date". www.businesswire.com. 9 August 2021. Retrieved 1 December 2021.
  32. ^ "MWH Treatment joins RSK". The Construction Index. Retrieved 3 September 2021.
  33. ^ Stein, Joshua (3 September 2021). "RSK Group acquires £200m-turnover specialist". Construction News. Retrieved 3 September 2021.
  34. ^ "Specialist service providers EiB and Electrokinetic join the RSK group • RSK • Engineering and Environmental Consultancy". RSK.
  35. ^ "RSK welcomes four new businesses into the growing group • RSK • Engineering and Environmental Consultancy". RSK.
  36. ^ "RSK Group welcomes surveying and engineering business Centara • RSK • Engineering and Environmental Consultancy". RSK.
  37. ^ "RSK Group delighted to add leading tree surgery company Hi-Line to its growing business • RSK • Engineering and Environmental Consultancy". RSK.
  38. ^ Morby, Aaron (22 March 2022). "RSK buys East Anglian M&E specialist Ceetech". Construction Enquirer. Retrieved 22 March 2022.
  39. ^ Media, Insider. "RSK moves for French firm in latest acquisition". Insider Media Ltd. Retrieved 27 May 2022.
  40. ^ Prior, Grant (10 August 2022). "Consultant buys scaffolding contractor". Construction Enquirer. Retrieved 10 August 2022.
  41. ^ a b "RSK buys steel fabricator". The Construction Index. 1 September 2022. Retrieved 1 September 2022.
  42. ^ a b Morby, Aaron (22 September 2022). "RSK buys Welsh contractor Spencer Group". Construction Enquirer. Retrieved 22 September 2022.
  43. ^ O'Connor, Rob (28 September 2022). "Copper joins RSK Group to accelerate growth". Infrastructure Intelligence. Retrieved 29 September 2022.
  44. ^ Morby, Aaron (27 October 2022). "RSK buys Midlands civils consultant Travis Baker". Construction Enquirer. Retrieved 27 October 2022.
  45. ^ Prior, Grant (9 January 2023). "RSK Group buys temporary site services firm WysePower". Construction Enquirer. Retrieved 10 January 2023.
  46. ^ Prior, Grant (14 June 2023). "RSK buys rail track repair and renewal contractor". Construction Enquirer. Retrieved 14 June 2023.
  47. ^ "RSK Group acquires engineering and energy transition experts - Machinery Market News". Machinery Market. Retrieved 2 August 2023.
  48. ^ "RSK adds rail contractor". The Construction Index. 20 September 2023. Retrieved 20 September 2023.
  49. ^ Morby, Aaron (3 October 2023). "RSK snaps up muckshifting and civils firm RJT Excavations". Construction Enquirer. Retrieved 4 October 2023.
  50. ^ "RSK adds light rights specialist". The Construction Index. 27 August 2024. Retrieved 27 August 2024.
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