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Cowgills’ business recovery team has advised on the sale of The Fairhursts Design Group Limited to national design practice Bond Bryan, saving 39 jobs across Manchester, Cambridge and Southampton.
The Fairhursts Design Group Limited, which was established as a partnership in 1986, operated as an architectural practice across three locations in the UK, offering its clients a national presence.
It said the business was incorporated 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 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.
As part of the deal, Bond Bryan will gain six studios in Sheffield, Bristol, London and Kent, and will expand its presence into Manchester, Cambridge and Southampton.
Craig Johns, partner of business recovery at Cowgills, 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.”
He added: “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.”
