Gateley makes second acquisition and swallows Hamer Associates

National full-service commercial law firm Gateley Holdings announce the acquisition of UK surveyors Hamer Associates on Monday.

The AIM-traded company described Hamer Associates as “leading specialists” in the fields of easements and wayleaves, and compulsory purchase and compensation.

Hamer Associates, to be renamed Gateley Hamer, is the second acquisition that Gateley has made since the group's admission to AIM in June 2015, with the first being the acquisition of Gateley Capitus, completed in April.

Gateley will pay initial consideration of £1m, split equally between cash and the issuance of 388,029 ordinary shares.

Deferred consideration of up to £1m is also payable depending on the financial performance of the business in the two years following completion, also split equally between cash and ordinary shares.

“I am delighted to welcome Hamer Associates to Gateley, the second acquisition we have made post-flotation in our strategy to bring complementary and specialist services into the group,” said Gately CEO Michael Ward.

“Hamer's first-class reputation and acknowledged expertise has generated an impressive list of both private and public-sector clients and we are excited about the new opportunities the acquisition brings to both Hamer and the wider Gateley group."

Charles Hamer, founder and chairman of Hamer Associates, said he was excited to be joining Gateley and looked forward to delivering an “enhanced service offering” to clients.

“We are looking forward to growing both our easements and wayleaves, and compulsory purchase and compensation teams as we continue to increase our market share in both sectors.”