RAG-Stiftung Investment Company Becomes a Partner with Pell Frischmann
RAG-Stiftung (Foundation) Investment Company has bought a majority in the international engineering consultancy Pell Frischmann, purchasing the stakes previously owned by the Frischmann family and part of the Prabhu family. Pell Frischmann senior management team members, Tushar Prabhu and Richard Barrett, will become Co-CEOs.
Pell Frischmann has led the design of some of the world’s most iconic construction projects, including Centre Point in London, the refurbishment of the Bank of England and the University of Oxford’s New Bodleian Library and the Forth Rail Bridge Restoration. Overseas projects include Delhi Airport, India’s Low Carbon Smart Cities and one of the biggest rebuilding projects in Iraq, the Mid-Western Water Supply project.
The Top 20 UK civil and structural consultancy has its head office in London, and a presence throughout the world, with regional headquarters in Mumbai and Abu Dhabi.
RAG-Stiftung Investment Company is a long-term investor aiming for sustainable development and acquiring stakes in market leading firms in four key sectors, namely: consultancy, automation, machine manufacturing and high-tech services.
Dr. Wilem Frischmann, who has been with Pell Frischmann since 1958, will be stepping down from his role as Chairman to take on an advisory role to the incoming chairman. The managing director of RAG-Stiftung Investment Company, Jürgen Wild, will join the Pell Frischmann board as chairman.
Jürgen Wild, Managing Director of RAG-Stiftung Investment Company and incoming Chairman of Pell Frischmann said:
“Our strategy is to invest in market leading firms with an international reach and a strong existing management team that delivers steady returns and growth. Pell Frischmann fits our criteria perfectly. A highly respected engineering consultancy that has an enviable reputation of combining cutting edge technical expertise with superior customer service.”
“I am committed to support the team growing the business both in UK and abroad.”
Dr. Wilem Frischmann added:
“Throughout my career I am honoured to have worked with some of the best engineering minds on some of the world’s most exciting engineering projects. Pell Frischmann has grown to become one of the most respected consultant engineers in the business, and I am delighted that we have found an investment partner to help continue this legacy and provide an ideal platform for further growth”.
Pell Frischmann has won numerous awards, such as the Queen’s Award for Enterprise: International Trade (2015-2020), and is ranked in the top 100 on the Sunday Times “International Track 200” league table in 2015.