Dunedin, a UK private equity firm, has taken a minority stake in Blackrock Programme Management.
Neither the size of the stake nor the price paid has been disclosed.
Blackrock PM provides independent expert witness and construction consulting services. Projects on which it has advised include The Shard. It has increased turnover from £1m in 2010 to £10m in 2014.
The London-based firm plans to use the injection of capital to open offices in Dubai, Singapore and other international arbitration centres.
Dunedin partner Giles Derry, who now joins the board of Blackrock, said: “Blackrock PM is a fast-growing professional services business with an impressive management team, a strong brand and a reputation for providing the highest quality expertise to its global customer base. The construction dispute market is growing rapidly in tandem with increasing demand for independent expert services. This represents a great opportunity for a British business to export its first rate professional service to overseas markets that are rich in potential, and for Dunedin to draw on its considerable experience of helping businesses to achieve growth through international expansion.”
Blackrock PM founder and principal David Barry added: “Dunedin’s investment provides us the platform from which to expand our services, capacity and international reach. We will work alongside them to develop the infrastructure of our business and to create the very best operating platform to service our customers and clients both in the UK and internationally.”
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