MBO sees new plans drawn up for architects
Manchester-based Aew Architects is drawing up new plans for its future after a management buyout was agreed.
The MBO has been led by Andy Rainford, who has been with the firm for 21 years, and Colin Savage, who joined in 2017 after a long career with the Bernard Taylor Partnership.
Rainford will become managing director, with Savage, Alan Lamb and Phil Hepworth alongside him on the board. Plans for an MBO began in January and have now been completed without external finance.
Rainford said: “We have a great team, fantastic client base and a very resilient business. Working through covid disruptions has only proved this further.
“I am looking forward to continuing the progress we continue to make, focussing on future improvements and driving sustainability.”
Former majority shareholder and managing director, Andy Critchlow, who was part of a 2011 MBO will become a consultant as he begins a gradual exit from the business.
He took control of Aew in 2017 as other equity directors from the buyout left. The late Steve Burne developed terminal cancer and Nigel Machin joined The Derwent Group.
Critchlow added: “Aew has never been in better shape and it is testament to our continued work on succession planning that I am handing over the baton to Andy and Colin.
“They both understand Aew’s values and are passionate to continue the legacy of continual improvement.”