CPMG Architects has been bought by four of its directors in a management buy-out deal.
The Nottingham-based practice, with 56 employees, provides architecture, interior designing, space planning and master planning services for its customers throughout Britain.
David Glazebrook, Nick Gregory, Richard Flisher and Sara Harraway have acquired the £3 million turnover business from two long serving directors Jack Gant and Bill Crampin, who are retiring.
The new management plans to take the business into new areas such as data centres and energy from waste plants. CPMG currently specialises in sectors including transport and education.
Mr Glazebrook commented: “This is an exciting opportunity for CPMG to continue to build the strength of the business. Over the last 20 years the company has established a strong reputation for design expertise in a significant number of sectors of the industry.”
“This broad operating base and the location in Nottingham will enable CPMG to continue to provide the best service for both local and national clients. I strongly believe that this will allow the company to remain competitive and to grow during the current challenging period in the economy.”
The business is presently working on the £10.5 million Campsmount Technology College project in Doncaster.
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