US consultant Cumming moves on another UK firm

Grant Prior 2 weeks ago
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American consulting giant Cumming has made another move in the UK market with the merger of London-based TowerEight into its expanding operations here.

TowerEight provides cost and project management services and has been operating since 2011.

Latest results for TowerEight for the year to May 31 2018 show a £12.5m turnover generating a pre-tax profit of £4m with the company employing 59 staff.

The latest move by Cumming follows similar swoops on Stoke-on-Trent-based Prosurv Consult and City of London based consultant Mellersh & Harding Building Consultancy LLP.

Derek Hutchison, President at Cumming, said: “Earlier in my career, I was a client of TowerEight and I always appreciated their hands-on, principal-lead philosophy.

“After experiencing TowerEight’s approach firsthand, I am not surprised they grew into such a highly regarded industry leader.

“Cumming’s investment in TowerEight demonstrates our strong belief in the firm and the tremendous potential of the UK market.

“Cumming and many of our development and investment clients are very upbeat on the outlook for UK real estate.

“We anticipate more activity from overseas investors and heighted levels of meaningful transactions.

“With the addition of TowerEight’s expertise, our group is better positioned to support this growth.”

TowerEight will continue to operate under the day-to-day leadership of its current executive team.

Toby Wait, one of the founding directors of TowerEight, said: “Partnering with Cumming allows TowerEight to provide additional advisory services and new specialised expertise to our current clients, while at the same time providing our team members with opportunities to develop their careers as we look to expand our geographic reach.

“We had been looking for a true long-term partner with an outstanding reputation, an owner-driven culture, and international resources that could help take TowerEight to the next level. We have found this with Cumming.”

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