Consultancy boss outlines plans for further growth in Scotland and beyond

“From here, the ambition is to grow stronger together.”

Alastair Wallace is senior partner at Thomas & Adamson, an international construction and property consultancy whose high-profile projects have included Virgin Hotels Edinburgh, The Clydeside Distillery, and the Grand Hyatt Abu Dhabi. It was announced in May of this year that the firm, which has offices in Edinburgh, Glasgow, London, and the UAE, was being taken over by French-headquartered architecture, construction, and engineering firm Egis Group.

Regarding Thomas & Adamson’s recently announced takeover by Egis, you have said this “opens up a world of possibilities” – can you explain more about the rationale behind agreeing to the acquisition, and how it will define your business’ path from now on?

The opportunity to join the Egis Group came at the perfect time. We had spent the last few years concentrating on making what we had already established market-leading, and with that came a natural level of growth and several new clients. We didn’t believe standing still was an option for 2024, and started exploring new avenues, such as mergers and acquisitions in the other direction – i.e. bringing other companies into the Thomas & Adamson fold – when the approach came from Egis.

It had already been considering expanding its offering to include the core services Thomas & Adamson has developed a reputation for – cost-management, project-management, building surveying and construction safety services – so for us, it seemed like an ideal opportunity. Coming under the umbrella of a larger group means we have the financial strength and access to business support resources to help our teams thrive, as well as gaining exposure to new clients in new markets. From here, the ambition is to grow stronger together.

You’ve previously highlighted your overseas operations providing the lion’s share of turnover, how will the Egis deal scale such activity? What about growth in Scotland?

Since announcing the acquisition, our teams have already been brought into international opportunities in places like Luxembourg, Saudi Arabia, and more, working closely with Egis’ global teams. In terms of our headcount and physical footprint, our focus will be on growing in our current markets and expanding into other native English-speaking geographies, including Ireland, North America, and Australia.

We have made a name for ourselves in Scotland, and will continue to do great work here. The construction market is reasonably mature, so growth will need to come via diversification into new services and sectors. That may include things like infrastructure projects, or more work in the renewables sector.

'It is important for us to be flexible, and find the balance between the type of projects we would like to do, and the type of projects there is a demand for,' says Wallace. Picture: contributed.

Recent projects of yours include office fit-outs for Ovo Energy and mutual insurer Royal London, and the new Love Loan development in Glasgow city centre. What do you look for when taking on new projects, and which sectors/factors are of particular interest going forward?

We are always interested in working with great businesses that value the services we can offer and have a similar ethos. To an extent, the market dictates the type of projects coming through the pipeline, so it is important for us to be flexible, and find the balance between the type of projects we would like to do, and the type of projects there is a demand for.

Sustainability will remain a big focus, and we are relatively active in the public sector, working on things like decarbonisation and retrofit strategies. On the residential side, purpose-built student accommodation and build-to-rent projects – although they have slowed in Scotland – are also going to keep us busy.

You have highlighted how UK construction “is facing the most critical and widespread challenge in our lifetime”, can you explain how you have been helping to tackle this?

Thomas & Adamson is working with charity Seamab School, helping it develop a new facility to further its work helping young people with complex needs. Picture: contributed.

The construction sector has had to contend with its fair share of uncertainty in recent years, from Brexit and Covid to inflation and the rising price of building materials. The market is also taking a more reserved approach to risk, and many companies are being more selective about the type of projects they will get involved in. On top of that, there is an ongoing skills shortage.

In Scotland, there is now a limited number of universities offering a building surveying course, so apprenticeships are more important than ever for developing the next generation. We are also at the early stages of developing a form of “academy” for recent graduates, who can come into the business and learn the trade here in Scotland, with the opportunity to then transfer overseas to the likes of our office in the Middle East – or potentially new locations.

Our focus on the next generation also spans events such as our young professional networking evenings, where we bring together people from different firms, including competitors, to give them an opportunity to make valuable connections with peers and colleagues.

Thomas & Adamson has supported Seamab, and you have donated your own time to help the charity, can you explain more about this?

Seamab School is an exceptional organisation that provides care and education for young people with a range of complex needs. When I first came across the charity, I was blown away by the impact it has on these children’s lives. The building the school operates from is no longer fit for purpose, so we have taken on the project-management role for a new facility that should be complete in the next 18 months or so.

Next year will mark your own 25th anniversary of joining Thomas & Adamson, and the firm’s 90th anniversary. What is your vision for the business by then?

In addition to celebrating anniversaries, next year will be our first full year as part of Egis and marks the real starting point of a new chapter for the business. It will be all about seeing how we can take Thomas & Adamson forward as part of a larger organisation, and learning more about how best we can work together with the rest of the global team.