New York – February 2020
– Cumming, a portfolio company of Tailwind Capital, announced its acquisition of London-based TowerEight. This transaction represents Cumming’s sixth add-on acquisition since Tailwind acquired the company in October 2016.
TowerEight, an industry-leading construction consultancy that provides cost and project management services, was founded in early 2011 by James Morris, Simon Craven, and Toby Wait. From the very beginning, TowerEight and its founders, who previously worked together for more than 20 years before starting the firm, recognized the need for tailored property solutions that would generate a real commercial difference as the European construction landscape continued to become increasingly competitive.
“Earlier in my career, I was a client of TowerEight and I always appreciated their hands-on, principal-lead philosophy,” said Derek Hutchison, President at Cumming. “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 U.K. market.”
Since its inception nearly 10 years ago, the TowerEight founders have grown the budding consultancy into a large team of trusted industry experts that consistently deliver successful projects for a broad range of sectors. With offices in both London and Manchester, the construction consultancy is leading some of the most high-profile hotel, mixed-use residential/PRS, hospitality, office, and student accommodation projects currently under development in the U.K.
“Partnering with Cumming allows TowerEight to provide additional advisory services and new specialized 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,” stated Toby Wait, one of the founding directors of TowerEight. “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.”
Hutchison continued, “Cumming and many of our development and investment clients are very upbeat on the outlook for U.K. 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.”
Cumming’s diverse portfolio includes an array of assignments in the healthcare, education, commercial, hospitality, retail, entertainment, and high-end residential sectors. Focused on supporting its growing U.K. client base, Cumming was recently joined by both Mellersh & Harding Building Consultancy LLP (MHBC), a longstanding U.K. building surveying group, and Prosurv, a construction consultancy based in Stoke-on-Trent.
Cumming now has approximately 900 professionals across 29 U.S. offices, as well as in Beijing, London, Edinburgh, Manchester, and Stoke-on-Trent.
Cumming is a global project and cost management consulting firm with offices in the United States and Europe. Cumming adds value and minimizes risk for owners during each stage of an existing or new building's maintenance, renovation, construction, and/or development cycle. The company delivers customized solutions to a diverse set of customers across the education, healthcare, corporate, themed entertainment, public and retail sectors worldwide. For more information, please visit http://www.ccorpusa.com.
About Tailwind Capital
Tailwind Capital is a middle market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business services and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has managed $3.6 billion of committed equity capital, and has invested in 43 portfolio companies and over 110 add-on acquisitions.