Mouchel and Parkman merge

Aug 2003

Mouchel and Parkman have announced that they propose to merge. The new consultancy group will be called Mouchel Parkman.

Both operate in the knowledge-based/white collar areas of construction and infrastructure maintenance.

The announcement has been welcomed in the City. Stephen Rawlinson, analyst with Arbuthnot, said: "Clients are demanding larger suppliers and the combined business will win more work than each could individually. The markets in which they operate are growing much faster than GDP as more outsourcing occurs."

The directors of the combined group will be drawn equally from Mouchel and Parkman. Parkman's Richard Cuthbert will be appointed as chief executive and Mouchel's Kevin Young will remain as finance director. The non-executive chairman will be Richard Benton, currently at Mouchel.

The combined group will have a total of 67 managed services contracts and a total orderbook of £700m. The figure excludes possible extensions to term contracts.

Mouchel has enjoyed success in the management of roads and infrastructure, with six Highways Agency Super Agency contracts. Merging with Parkman will accelerate its move into water and social housing management, as well as strengthening its position in rail and education.