Law firm Gateley has acquired Birmingham-based property consultancy Hamer Associates in a £2.05 million deal.
Hamer Associates, to be renamed Gateley Hamer, is the second acquisition the firm has made since being listed on AIM 15 months ago after it bought tax incentives advisory business Capitus in April.
Hamer Associates was founded in 2000 by chairman Charles Hamer and is led by managing director Jonathan Stott.
The agency specialises in providing advice across the UK relating to easements and wayleaves for utilities infrastructure, compulsory purchase and compensation.
The easements and wayleaves team advises property developers on negotiations in relation to the removal of utility infrastructure such as pylons and cables from development sites.
It also negotiates compensation for loss of development value where that infrastructure remains in situ.
The compulsory purchase and compensation team advises project promoters on all aspects of the process from initial consultation through to settlement of claims.
In the year to April 2016, Hamer Associates generated revenues of £1.2 million and operating profit of £292,000.
Gateley Hamer will sit alongside the law firm's national property business which acts for developers.
Chief executive Michael Ward said: "Hamer Associates is the second acquisition we have made post-flotation in our strategy to bring complementary and specialist services in to the group.
"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."
Mr Hamer added: "We are excited to be joining Gateley and look forward to delivering an enhanced service offering to our 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."
