Cluttons has bought the niche cost consulting firm Paul Jennings Associates for an undisclosed amount.

Paul Jennings Associates specialises in monitoring construction works on behalf of banks and major financial institutions.

Principals Paul Jennings and Mike Jackson will both join the firm as associates and John Fuller as consultant.

Paul Chilton, head of the project and building consultancy division at Cluttons, said: ‘This represents an important step in the planned development of our cost management consultancy group.

Paul Jennings said: ‘By this acquisition, Cluttons will be strengthening and expanding their bank loan monitoring services and our clients will benefit from the enhanced group.’