July 22 2019 @ 15:06 by Richard Dawson
A North East architect has concluded a management buy-out (MBO) of the firm he started at as a trainee.
Richard Marsden has signed a takeover deal that will see him become managing director of Building Design (Northern) Ltd (BDN).
The Sunderland-born architect has acquired the remaining shares of former managing director Clive Oliphant and co-director Gary Ward. Both will remain at the firm as consultants, whilst Richard will take on overall responsibility, directing the firm’s work and that of its 11-strong team.
New managing director Richard Marsden said: “Having spent my whole professional career at BDN, I am delighted to now be in a position of owning a business I’m extremely passionate about.
“I’ve seen huge changes during my time with BDN, having built the architecture arm of the business from a standing start, and I’m really excited to now be in a position to oversee the ongoing growth and development of the whole firm.”
BDN opened a new office in Ulverston earlier this year and has plans to take on more projects such as developing its own properties, designed by the in-house team and then project-managed to completion.
The firm is currently building a new housing development in Sunderland with eight sustainable properties that boast panoramic views of the city.
Richard added: “We have an extremely talented team at BDN, and the quality of the schemes we are able to design and engineer, project manage and ultimately bring to market, are fantastic.
“We always look to test the boundaries of design, innovation and technology. Schemes that allow us to be visionary – to do something different – are attractive to us, and we have proven we have the ability to create special schemes, like Spire View.
“I am keen to develop that part of the business, as I think we can really do some incredible work. And the scheme in Sunderland is showing just what we are capable of.”