Agathos invests in leading surveyors Plowman Craven

Agathos is pleased to announce the completion of an investment into Plowman Craven, one of the UK’s largest surveying companies.

Plowman Craven delivers measurement survey and consultancy services to the commercial property, logistics, infrastructure and rail sectors. Capturing, processing and modelling data that underpin a broad range of activities across the property lifecycle, the business operates at the forefront of survey and measurement innovation, pioneering new methods and technologies delivering clients a first-class service.

Headquartered in Harpenden with offices in London, Birmingham, Ahmedabad, and New York, Plowman Craven has a 60-year track record in a range of important heritage, restoration and development projects in the UK and internationally, including Olympia, King’s Cross and the Palace of Westminster.

Due to its premium offering, Plowman Craven stands to benefit from long term market drivers in its niche including the continuing adoption of 3D modelling methods, automation in the logistics sector and the impact of ESG regulation in the broader property sector.

Agathos is backing the executive team led by David Locker, who will be succeeding Andy Molloy as CEO, and a strategy to accelerate international growth and to develop its geo-tech capabilities and digital services for clients. The transaction will also unlock funding for Plowman Craven to target acquisitions.

Hugh Costello, John Butterworth and Chanelle Jones led the transaction from Agathos. Hugh and John have joined the Plowman Craven board. Adrian Ringrose, former CEO of Interserve and serial non-executive director, will join as non-executive chair.

Hugh Costello, Partner at Agathos, commented: “We are thrilled to be investing in Plowman Craven. We see huge potential for the business in the UK and internationally, and we are looking forward to working with David and the team to deliver their ambitious growth plans.”

John Butterworth, Senior Investment Manager at Agathos, commented: “Plowman Craven is the trusted partner of choice for the whole industry, and for good reason. Its first-class service is underpinned by a culture of innovation, and the dedication and expertise of its 180 employees. We are delighted to be partnering with the team on the exciting journey ahead.”

David Locker, CEO at Plowman Craven, commented: “We’re delighted to be working with Agathos, a growth-focused investment partner whose values and approach align with ours. Attracting such significant external investment marks an exciting milestone and is a tremendous opportunity for us to supercharge growth and increase our reach on a global scale. Having already established a strong foothold in our core market, the capital injection will facilitate positive change and expansion to elevate our business to the next level.”

Agathos was advised by Stephenson Harwood (legal), FRP (debt advisory), Grant Thornton (financial and tax due diligence, tax structuring), CIL (commercial), Continuum (organisational). Plowman Craven was advised by Sherrards (legal) and CMS (tax).

About Plowman Craven

As one of the largest surveying companies in the UK, Plowman Craven has spent more than 60 years providing a range of measurement and surveying services to the property, rail and infrastructure markets.

With offices currently in Central London, Harpenden, Birmingham, Ahmedabad and New York, Plowman Craven works in both the private and public sectors, playing a key role on some of the most prestigious construction and redevelopment projects in the UK and overseas.

Find out more at www.plowmancraven.co.uk