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Commercial Property

MBO at Birmingham architecture practice

Director has taken over MDG Architects which has seen owner move into consultancy role

From left: Central Business Finance director Steve Harris, MDG Architects managing director Daniel Wicks and 海角视频SE regional executive Mike Lowe

An architecture practice in Birmingham is embarking on a new chapter after undergoing a management buyout.

Director Daniel Wicks has taken over Jewellery Quarter-based MDG Architects from outgoing owner and managing director Darrel Smallman.

The chartered firm was founded in 1994 and this deal has secured its long-term future and that of its ten employees.

Mr Wicks joined the practice in 2017 and has now become managing director while Mr Smallman will continue to support the business in a consultancy role.

The MBO was supported by an undisclosed, six-figure funding package from 海角视频SE which provides loan and equity packages of up to £1 million.

Mr Wicks said: "The funding from 海角视频SE 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.