Pell Frischmann sells majority stake to German investment firm

Pell Frischmann, one of the largest privately owned engineering firms, has done a deal with RAG-Siftung (Foundation) Investment Company which has bought a majority stake in the consultancy.

Tushar Prabhu, Dr Wilem Frischmann, Jurgen Wild and Richard Barrett - the new team at Pell Frischmann

Existing senior management team members Tushar Prabhu and Richard Barrett will become co-CEOs. Chairman Dr Wilem Frischmann is stepping down as chairman and, will take on a new role as the strategic advisor to the board. The managing director of RAG-Stiftung Investment Company, Jürgen Wild, will join the Pell Frischmann board as chairman.

"I am honoured to have worked with some of the best engineering minds on some of the world's most exciting engineering projects" -Dr Wilem Frischmann

RAG-Stiftung has purchased the stakes previously owned by the Frischmann family and part of the Prabhu family.

Pell Frischmann is over 900 strong and turns over close to £48M a year. It has led the design of some of the world's most iconic construction projects, including Centre Point in London, the refurbishment of the Bank of England, the University of Oxford's New Bodleian Library and the Forth Rail Bridge Restoration. Overseas projects include Delhi Airport, India's Low Carbon Smart Cities and one of the biggest rebuilding projects in Iraq, the Mid-Western Water Supply project.

It is in the top 20 of UK civil and structural consultancy and has its head office in London, and a presence throughout the world, with regional headquarters in Mumbai and Abu Dhabi.

RAG-Stiftung Investment Company is a long-term investor aiming for sustainable development and acquiring stakes in market leading firms in four key sectors, namely: consultancy, automation, machine manufacturing and high-tech services.

"Our strategy is to invest in market leading firms with an international reach and a strong existing management team that delivers steady returns and growth,” said managing director of RAG-Stiftung’ s Wild. “Pell Frischmann fits our criteria perfectly. A highly respected engineering consultancy that has an enviable reputation of combining cutting edge technical expertise with superior customer service.

"I am committed to support the team growing the business both in UK and abroad."

Dr Frischmann who has been with the firm since 1958 added: "Throughout my career I am honoured to have worked with some of the best engineering minds on some of the world's most exciting engineering projects. Pell Frischmann has grown to become one of the most respected consultant engineers in the business, and I am delighted that we have found an investment partner to help continue this legacy and provide an ideal platform for further growth".


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