Bondholder Morrison Design Limited has announced its acquisition by its management team.
The new owners and directors will be Peter Newman-Earp, David Gardner and Nik Clarke, who will take control of the business from former owners Nigel Walding and George Love. Nigel will continue to be involved in a consultancy role to continue to provide his wealth of experience and knowledge.
Morrison Design was founded in 1948 by war veteran Sam Morrison and recently celebrated its 70th anniversary. The company provides architectural design, planning and project management services on commercial design and build and refurbishment projects for hotels, schools, fire stations and company offices and manufacturing facilities.
Morrison Design has been the appointed architect on many local, UK and overseas projects. These include work for Bondholders Morley Hayes Golf Club and Rolls-Royce, as well as a £91m five-star hotel in Grand Caymen and multiple hotel projects in London, Dublin and Portugal.
Commenting on the management buyout (MBO), Dave Gardner, Director said, “It’s a great relief to be able to talk more publicly about the deal and announce our plans for building our business as a team. We have worked on some really high-profile projects in the past, and going forward we hope to profile our work more prominently as we seek to expand our portfolio of clients and further build our credibility.”
Advisers on the deal were David Mellor from Johnson Tidsall and David Tomlinson from Bondholder Powell & Co who acted on behalf of the MBO team.