Architecture and construction firm Foster + Partners has raised an undisclosed amount of growth capital finance.
Architecture and construction firm Foster + Partners has raised an undisclosed amount of growth capital finance.
The transaction has resulted in an expansion of the shareholder base to include all senior partners, the creation of an equity warehouse and the introduction of 3i as a minority shareholder.
The London-based firm’s chairman, Lord Foster, and minority shareholders approached Catalyst Corporate Finance to explore a range of strategic options.
Catalyst, led by managing partner Andy Currie, was lead adviser to the shareholders, appointed on the back of their MBO of Celerant Consulting,
“The shareholders had a number of key objectives when assessing the options available to them,” Currie said. “These included identifying an appropriate equity backer to support their future development plans and a desire from Lord Foster and the current shareholders to broaden the equity share ownership amongst the senior management team.”
Steven Nicholls, David Whileman, Martin Le Huray and Stuart Miners led 3i’s minority investment in Foster + Partners.
3i provided equity for the deal, taking the minority stake, which resulted in an additional 10 senior partners becoming shareholders.
Of the 10 partners four have joined the new executive board and Lord Foster will remain as the full time executive chairman.
L.E.K. consulting was approached by Foster + Partners to provide commercial vendor due diligence, supporting its plans to diversify and broaden ownership of the firm.
The team, led by Partners Peter Debenham and Rob Southern, conducted a rigorous review of the firm’s current client base and future growth prospects. They also evaluated the key differentiating factors.
L.E.K. Consulting is an international consulting firm that specialises in transaction support, strategy development and performance improvement consulting.Â
Debenham said: “Foster + Partners is one of the world’s best known signature architectural services firms, with a reputation for innovation and excellence. It has substantial business development opportunities and is well placed to continue its strong growth.”
The company provides planning and design services for a wide range of clients. It was founded 40 years ago and has 18 offices worldwide, employing moe than 1,000 staff. Since its inception it has received 440 awards and citations for excellence and has won more than 70 national and international competitions.
3i has offices across three continents and as Foster + Partners develops its footprint across the world, we have capability and people on the ground who can work directly with the company to help them achieve their growth.
