TORONTO, July 30, 2012 /CNW/ - IBI Group Inc. (the "Company") (TSX: IBG)
announced today that business arrangements have been settled for the
acquisition of the practice of Taylor Young Limited Architects and
Master Planners within the IBI Group of Firms.
Taylor Young is a full services architectural practice including
professional skills in urban planning and design and landscape
architecture, based in Manchester, UK with offices in Liverpool and
London. The firm has a strong reputation in the design of facilities
in healthcare, education, housing, as well as urban planning/design and
landscape design for a broad range of clients. The firm is highly
experienced in sustainability of design integrated with such
Taylor Young was incorporated as a company in 1989. The three majority
shareholders of Taylor Young Holdings Ltd., the parent of Taylor Young
Limited, are Stephen Gleave, Rod King and David Gardner. Paul Rushton
and Alan Simpson are the two minority shareholders.
The firm has a very firmly established and strong second line of
leadership operating as studio leaders, (directors), and practice
leaders, (directors), of various groups within the overall practice.
The firm currently has some 80 professional staff for a total
complement of approximately 100 staff members.
Philip Beinhaker, Chairman Director and CEO of IBI Group noted that:
"The ownership of Taylor Young have built a highly professional
practice in architecture and related disciplines based in Manchester
with additional offices in Liverpool and London. The firm is also
managed in a financially effective and profitable manner. This
acquisition will further enhance IBI's professional strength in the UK
market, as well as contribute to the growing strength of the global
practice of the firm in health and education. Professional experience
in urban planning and urban design, as well as landscape architecture
and the architecture of housing in the UK will broaden the current
areas of practice of the IBI capabilities in the UK. Taylor Young
Limited has a very broad range of clients in the public sector with
over 70% of the business gained on a repeat basis with long established
Stephen Gleave noted that: "This is a strategic move for Taylor Young,
including its owners, lead managers and professional staff in becoming
a member firm within the IBI Group of Firms. It increases our capacity
in professional resources to serve our many clients with the largest of
projects and with broader skills that complement our existing breadth.
It opens opportunities for our talented staff to participate in
projects around the globe through IBI's established global strategy of
work sharing and deployment through the intelligent systems of the
firm. In short, it opens strategic opportunities at multiple levels
for the future of the Taylor Young Family".
Rod King stated that: "We are all so excited about the collaboration
that we will be able to achieve with our colleagues within the IBI
Group - Nightingale Associates practice. Together, the two practices
will be even more strongly established in the health and education
opportunities in the UK. Our expertise in urban design, urban planning
and landscape, will also now have broader markets in which to
participate in the UK".
The new trading name will be IBI Taylor Young. With this acquisition the
total of the IBI staff increases to approximately 3,050.
About IBI Group Inc.
IBI Group Inc. is a TSX listed company, which pays monthly dividends and
trades under the symbol "IBG". IBI Group Inc. holds an indirect 77%
interest in IBI Group, a partnership (of a subsidiary of IBI Group Inc.
and IBI Group Management Partnership) which, directly and through its
subsidiary entities, provides professional services, including
planning, design, implementation, analysis of operations and other
consulting services in relation to four main areas of development,
being urban land, building facilities, transportation networks and
systems technology. The remaining 23% of IBI Group is owned by IBI
Group Management Partnership. On a partially diluted basis, assuming
the exchange of its partnership units of IBI Group for common shares of
IBI Group Inc., IBI Group Management Partnership together with
affiliated entities holds a combined 42% interest in IBI Group Inc.
SOURCE: IBI Group Inc.
For further information:
Philip H. Beinhaker
IBI Group Inc.
230 Richmond Street West
Toronto, Ontario M5V 1V6