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LONDON-Donaldsons has bought a 40% stake in a firm of management consultants specialising in the sport and leisure sector.

The Guildford-based PMP employs 64 people and its managing director, Nick Russell, is a former Donaldsons employee Nick Russell. PMP, chaired by Peter Mann, has a turnover of £5 million (£8.2m), and specialises in giving advice to government and local authorities on the funding and procurement of leisure projects.

James Grierson who is head of consulting at Donaldsons, is to join the PMP board as a non-executive director.

The deal is only the latest of a string of mergers and acquisitions in property consultancies. The sector has increasingly sought consolidation as a means of cutting costs and winning more business at a time when the property market is sluggish at best.

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