TSA buys project management consultancy Calcutta Group
Project management consulting firm TSA Management has completed the acquisition of Calcutta Group, a 30-strong consultancy with offices in Sydney and Brisbane.
The deal sees TSA Management grow its headcount to roughly 350 consultants, project managers and staff, working from eight locations across Australia and New Zealand.
TSA Management specialises in programme and project management and has completed over a thousand projects for private and public clients in both the infrastructure and property sectors since launching in 2001. However, ever since it received backing from UK based private equity firm Livingbridge late 2017, the company has been on a stellar growth path.
The acquisition of Xigo in November 2018 added around 100 professionals to its team, and provided the firm with a strong presence in New Zealand (offices in Auckland, Wellington and Tauranga). A number of other smaller transactions have been completed in Australia since it beefed up its financial muscle, the latest of which is that of Calcutta Group, announced late 2019 and closed this week.
Founded in 2010, Calcutta Group specialises in strategic advisory and project management consulting for clients with a key focus on the transport, healthcare, social services and education sectors. Over the past decade, the firm’s engineers, consultants, architects and lawyers have worked on several major infrastructure projects in Australia such as Sydney Metro, Queen’s Wharf Brisbane and Sunshine Coast University Hospital.
As part of the integration, Calcutta Group leaders Peter Lawless, Mike Polich and Kate Townsend have joined TSA Management as Principals operating from Sydney and Brisbane. They said, “We are very excited about joining this entrepreneurial and successful organisation to develop synergies together and create a leader in the project management consulting sector in ANZ.”
The deal was advised on by M&A consultancy SCD Advisory. Commenting on the successful closing, the firm’s Managing Partner Pierre Briand said: “I am confident that Calcutta has found the right partner, culturally and strategically, for them to capture the numerous opportunities in the infrastructure market.”
According to a study by McKinsey & Company, Australia's infrastructure sector is gearing up for change.
