17-Leach Rhodes Walker Commercial architecture practices News 210408

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LEACH RHODES WALKER PLANS FOR FUTURE AFTER COMPLETING MBO

One of Manchester’s leading commercial architecture practices has outlined plans for its future following a Management Buy-Out from its parent company.

The deal to purchase Leach Rhodes Walker from Erinaceous Group plc was completed in just four days.

The MBO secures the jobs of Leach Rhodes Walker’s 125 employees at its two offices in Manchester and Bucharest.

According to director Christian Gilham, the deal also offers a chance to reassert LRW’s status as one of the finest bespoke commercial practices in the north of England.

“The difficulties in which Erinaceous found itself were, of course, unfortunate but thankfully never impacted on what we were doing at all. We are now, in fact, stronger than we were before.

“Having our independence back presents us once more with tremendous opportunities to press forward in a way which has contributed to the firm’s success over the last 50 years. We have spoken to our clients and, like us, they’re excited by what lies ahead.

“We have a fantastic team of enthusiastic employees and are looking forward to taking the business forward with a fresh approach.”

Mr Gilham and his four fellow directors – Gary Darby, Neil Elwell, Peter Roberts and Robin Stephenson had been considering an MBO for several weeks and moved into action when the opportunity became available.

The deal – which sees Leach Rhodes Walker become a limited company - was completed with the help of Tony Harper, head of Brabners Chaffe Street’s Manchester corporate department, and his colleague, associate Claire Swarbrick.

Corporate finance advice was provided by a team at BDO Stoy Hayward, led by partner Gordon Lane and assisted by Ruth Percival.

Leach Rhodes Walker was founded in Manchester in 1950. The 110 staff employed at its head office on Riverside in the city centre include architects, technical, interior design, visualisation, multimedia and administrative staff.

As well as completing projects for a string of major public and private sector clients nationwide, its local flagship schemes include Liverpool Airport, Lingley Mere, Greenquarter and the Grand Arcade in Wigan.

Its current developments include a string of hotels such as Manchester’s new Crowne Plaza, and schemes for Radisson, Premier Travel Lodge and Tulip Inn at Manchester Airport. The firm is also responsible for the redevelopment of the former Manchester City football stadium at Maine Road.

LRW’s Bucharest office is also responsible for designing the Colosseum, the largest retail complex ever seen in the Romanian capital.

Mr Gilham said that Leach Rhodes Walker was ideally placed to thrive during the current financial climate. “Along with most if not all architects’ practices, we have seen a slowing down in the number of residential projects in which we’re involved although the ‘right’ schemes are still proceeding.

“However, the volume of our work with other sectors, hotels, retail and offices, continues to go from strength to strength.”

Email: will@masonmedia.co.uk