Part buyout of architect company behind landmark Titanic building
The architect firm behind Titanic Belfast has announced a part management buyout (MBO) by three existing employees.
Jim Mulholland, Daragh Coleman and Andrew Murray from Todd Architects have bought equity from existing directors Peter Minnis and Paul Crowe.
But Mr Minnis and Mr Crowe have said they are staying on in the business to provide "strategic direction". They also remain shareholders.
As well as Titanic Belfast, the firm has also been involved in the design of other Titanic Quarter buildings including the Public Record Office and Citigroup buildings.
Todd Architects is also involved in one of Belfast's newest office block sites, which received planning permission last month. Killultagh Estates' £14m Mercantile Building, on Donegall Square South, will cover 95,000 sq ft and feature nine floors, a basement and a glass front.
Speaking about the part management buyout, managing director Paul Crowe said: "This promotion and opportunity to invest in the practice recognises the significant contribution that Andrew, Daragh and Jim have made to the firm's growth and success in recent years.
"Furthermore, it reflects our strong belief that they are the right team to work with us in continuing the growth and sustained success of the practice. We are delighted to welcome them as fellow directors.
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"This will future proof the business, enabling us to maintain and strengthen our market position as one of the UK and Ireland's leading architecture firms. It also provides a fantastic platform for the next stage in our growth.
"Having assembled what we now believe to be one of the best senior leadership teams in the business, we very much look forward to continuing to serve our diverse client base through continued design excellence and the delivery of high quality buildings."
The firm, which has offices in Belfast, London and Dublin, said its sights are now set on winning major projects across the UK and Ireland.
Mr Crowe said: "Our long-term commitment to the offices in London and Dublin has allowed us to orbit around the best projects and develop the specialist expertise required to deliver them, including a dedicated aviation team within the practice."
Todd Architects was advised throughout the transaction by law firm A&L Goodbody.
Peter Stafford, corporate partner at A&L Goodbody in Belfast, said: "Todd Architects is an outstanding example of an indigenous firm that, through an unfaltering commitment to quality and innovation, has grown its footprint across the UK and Ireland to compete comfortably with international practices and continues to add to its impressive portfolio of prestigious and award-winning projects."
The firm has over 70 staff and has won numerous international awards, including The Architects' Journal International Practice of the Year, as well as commercial practice of the year in the Belfast Telegraph Property Awards.