Liverpool building safety firm Project Four Safety Solutions joins private equity-backed business group 10 years after it was founded by Alan Robson and Max Meadows. Tony McDonough reports
Liverpool building safety firm Project Four Safety Solutions is to become part of a larger group of businesses focused on inspection, testing and compliance.
London-based Vadella is acquiring Project Four, founded by Alan Robson and Max Meadows in 2016, for an undisclosed sum. Annual turnover has grown to £6.7m and the company’s most recent accounts revealed net assets of more than £911,000.
Run by Alan and Max out of its Mann Island headquarters, Project Four has seen considerable growth in the last few years thanks to more stringent regulations in the construction sector.
Following the Grenfell Tower blaze in 2017, which claimed 70 lives, building safety compliance became a much bigger issue and eventually led to the passing of the Building Safety Act. A surge in work has seen Project Four’s headcount rise from 20 to 60 in four years.
Backed by private equity, Vadella has been buying up firms in the testing, inspection, and certification sector. Following the deal Project Four will retain its branding and continue to operate as a standalone business.
Max Meadows, who will remain as managing director of the business, said: “Project Four has built a strong business through great people, trusted client relationships and a commitment to delivering high-quality advice.
“We had a choice about who we partnered with, and we selected Vadella because they share our values, believe in our people and will help strengthen the business for the long term. This is about building on strong foundations, not changing who we are – Project Four remains Project Four.” .”
READ MORE: Councillors put Sandhills matchday plans on hold
READ MORE: Burnham and Rotheram ‘get serious about growth’
Alan Robson will remain with Project Four as a consultant. He will focus on business development and client relationships.
He added: “This wasn’t about just being swallowed up into a big business. We were conscious we don’t want to turn into a big corporate, but that’s why the fit with Vadella just felt right.
“I’m incredibly proud of what our team has built. As we looked to the future, finding the right partner mattered far more than simply securing investment – and in Vadella we’ve found a partner who respects our culture and our people.”