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Cowgills Business Recovery helps save 39 jobs

Cowgills Business Recovery team has advised on the sale of The Fairhursts Design Group Limited to a third-party purchaser, saving 39 jobs across Manchester, Cambridge and Southampton.

The Fairhursts Design Group Limited operated as an architectural practice across three locations in the UK, offering its clients a national presence.

The business was established as a partnership in 1986, before incorporating as a Limited Company in 1992 but had experienced increasingly difficult trading conditions in recent times due to a challenging PI Market and commercial constraints felt across the industry.

Bond Bryan, a National Design Practice, acquired The Fairhurst Design Group Limited following high level discussions to ensure continuity of the business for its clients, as well as employment for its entire workforce.

The existing management team will also transfer as part of the transaction.

Craig Johns, Partner of Business Recovery at Cowgills, led on the transaction.  He said: “I am delighted to have played a part in this transaction, which not only secures continuity for the business and clients alike, but also preserves employment for the entire workforce. The Fairhursts Design Group Limited is a very well-established business which for a number of reasons encountered difficulties over recent years.  We have worked with the directors and in these difficult and uncertain economic times are delighted to have been able to complete a sale to a third-party purchaser which saves 39 jobs, and also secures the future of the Fairhursts brand which has been around for well over a century.”

The deal means Bond Bryan, which has six studios, including bases in Sheffield, Birmingham, Bristol, London and Kent, will expand its presence into Manchester, Cambridge and Southampton.

While both companies will continue to trade under their own names, clients will now have access to a much broader range of skills and specialisms, as well as a greater geographical spread across England.

Richard Fitton, Financial Director at The Fairhursts Design Group said, “We were pleased to be working alongside Craig and his team during this difficult period for our business. We are delighted to have been able to establish a positive way forward which enables us to continue supporting our clients whilst securing employment for our 39 staff in the process.”

Steve Maslin, Commercial Director at Bond Bryan said “Craig proactively guided our team through the recovery process with consistently strategic and practical advice. We are delighted with the future opportunities the transaction has opened-up for both businesses.”

Craig continued: “I would like to thank all involved for their focus and commitment in progressing this transaction, and to wish the business and all involved every success in the future.”

Business recovery
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The information was correct at time of publishing but may now be out of date.

Business Recovery
Posted by Cowgills
3rd July, 2024
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