Third acquisition for regeneration experts Place Capital Group
Place Capital Group, the housing estate regeneration specialist, has snapped up architects practice, Loop Systems, for an undisclosed sum.
This is this third acquisition by Place Capital Group since it was formed earlier this year by David Smith-Milne and Peter Martin to work with some of the UK’s largest local authorities and landlords to regenerate neglected housing estates and deliver much needed affordable housing.
The company’s strategy is for rapid growth through a buy and build acquisition model.
Earlier this year it acquired Fourth Street placemaking consultancy and established design practice Grounded.
Loop Systems is a Manchester-based specialist architecture practice which has delivered award winning architectural schemes for community groups, housing providers, ethical enterprises and the charity sector.
Its recent projects include a number of assignments with Unicorn Grocery Co-operative, the vegan food retailer in Chorlton, and supporting a local community to take ownership of and redevelop the Grade II listed Stretford public Hall in Trafford.
It has expertise in affordable housing, including retrofit solutions to put existing homes on pathways towards zero carbon futures.
Loop Systems was established in 2002 by architect Neil Allen and since 2017 has operated under the management and ownership of Stephen McCusker and Sarah Renshaw.
It employs five architecture staff and, with the backing of Place Capital Group, expects to expand substantially over the next twelve months.
Under the terms of the deal, Loop Systems will retain its own brand and management structure and will continue to serve existing clients who share its values and principles.
However, with the added financial and operational support of Place Capital Group, and the additional work that it will provide to PCG, the business will grow and expand from its offices in Manchester with additional recruitment of experienced architects.
Stephen McCusker & Sarah Renshaw, Loop Systems said: “We’re excited about the next part of our practice’s journey.
“With PCG we have a real opportunity to grow what we’ve been doing and make a bigger difference, in more places, for more people.”
Peter Martin, Place Capital Group Chairman, said: “Under the leadership of Sarah and Stephen, the business has built a reputation for working collaboratively with their clients and stakeholders to produce imaginative design proposals on complicated sites.
“Their fit with the PCG model is ideal and we look forward to investing in the business to help it grow its client base and move into new markets.
“Loop Systems is our second acquisition and third deal this year. It adds to our growing advisory capability from which we can provide genuinely integrated solutions to large councils and housing associations to address their place making needs.
“This is a perfect complement to our growing development portfolio, creating a mixed economy business model.”
The acquisition comes off the back of Place Capital Group recently announcing the launch of a new design studio in London, Grounded.
Founded by Chloe Phelps, formerly of Common Ground Architecture and Lifschutz Davidson, Grounded is Place Capital Group’s London-based design practice and is working closely with Fourth Street, place-making experts acquired by Place Capital Group in February 2021.