Architects’ firm sold to Japanese group in £100m deal

LEADING North West architects and urban planning firm BDP is being bought by a Japanese group for more than £100m.

Manchester-headquartered BDP – was founded as Building Design Partnership in 1961 – now has offices around the UK and further afield in Abu Dhabi, Canada, China and India. In 2015 it reported  revenues of £81m and employed more than 950 people.

Its new owner is Tokyo-based Nippon Koei, a respected consulting engineering firm, which is paying £102.2m, in line with a strategy to grow its international business.

In an announcement to the Japanese stock market Nippon Koei director and president Ryuichi Arimoto said: “Engineers and architects account for a high percentage of all  employees, and both companies still operate on the pr
inciples of their respective founders, Yutaka Kubota and Sir George Grenfell Baines.

“The things we hold in common with respect to corporate culture and  values were crucial elements in reaching agreement on this acquisition.”

BDP was advised in the sales process by Jonathan Boyers, head of corporate finance in the north at KPMG.

John McManus, chief executive of BDP said: “The alliance with Nippon Koei heralds an exciting new era in BDP’s evolution. Although separated geographically, our two firms share common values and have highly complementary strengths in terms of professional offer and sector expertise.

“By uniting the two firms, we are creating an organisation which genuinely has the potential to be greater than the sum of its parts. We believe that this strategic international alignment will deliver huge benefits to our clients and will offer exceptional prospects for our people to develop both professionally and personally”.

Nippon Koei employs around 3,200 people and had a turnover of £430m in 2015. The company has been listed on the First Section of the Tokyo Stock Exchange since 1954.

A statement added: “The two companies have a vision to be the world’s leading integrated architecture, design and engineering firm delivering world class design solutions which enhance the communities they serve.

“While both companies will retain their existing operations and their own brand identity, their complementary geographical footprints and technical skills mean that they will be able to work collaboratively to win and deliver integrated design solutions across international markets.”