Architects draw up new future with six-figure MBO
A Birmingham-based architectural firm has completed a management buyout, securing its long-term future and safeguarding jobs.
MDG Architects, a Royal Institute of British Architects (RIBA) Chartered Practice based in the Jewellery Quarter, will now be led by director Daniel Wicks after he secured six-figure funding from business investment specialist UKSE.
The deal sees Wicks take over from outgoing owner and managing director Darrel Smallman, who will stay on as a consultant under a multi-year agreement.
Founded in 1994, MDG Architects has 10 employees and is known for its work in the automotive retail sector.
Wicks said: “The funding from UKSE will enable me to continue to grow MDG Architects for the benefit of the employees and clients.
“I am committed to the long-term success of the business and will continue investing in the company to ensure its growth and progression. It is a really exciting time for the company as we also celebrate 30 years in business. Our commitment to good design and quality will, however, always remain at the forefront of everything we do.
“I would like to thank Darrel for the dedicated role he has played in growing MDG Architects during his nine years as owner. Darrel has established MDG as a key player in automotive retail as well as playing a pivotal role in diversifying the brand into both commercial and governmental sectors.”
UKSE regional executive Mike Lowe said: “We are pleased to have been able to support MDG Architects with the funds needed to secure this management buyout. UKSE’s mission is to enable businesses to grow and prosper, so we look forward to seeing the company build on its success and contribute further to the West Midlands economy.
“MDG Architects is an impressive business with a strong track record of delivering high-quality building projects, and I am confident that the company will retain the values that have contributed to its success under Daniel’s leadership.”
Birmingham-based commercial finance broker Central Business Finance helped facilitate the deal. Director Steve Harris said: “I am thrilled to have been able to assist Daniel in sourcing suitable funding for this management buyout. It has opened up new opportunities for the business to grow and prosper.”
