LWIN member and LWIN’s Ealing Pioneers Grant winner Torpedo Factory Group (TFG) has announced that it has been acquired by Aukett Swanke Group Plc (ASG), one of the world’s global 100 architectural practices, and the only architecture firm to be quoted on the London Stock Exchange.
ASG’s skills and knowledge gained from many years at the prestige end of the traditional architecture market combined with TFG’s focus on exploiting the opportunities afforded by technology will allow the enlarged group to offer a wide range of services to existing and new clients in the property world. The transaction was an all-share deal with TFG shareholders taking a 40% stake in the enlarged group.
Clive Carver, Aukett Swanke Group Plc Chairman, commented:
“We were delighted to receive such a strong show of support from shareholders for the Torpedo Factory Group acquisition. Our focus now is to grow both the traditional core architecture businesses and to move forward quickly in the quest to develop the Group in the smart buildings arena.”
Nick Clark, TFG founder and CEO of TFG, who has joined the Board of Aukett Swanke as an Executive Director with immediate effect, commented:
“This transaction helps broaden TFG’s reach as it becomes a master systems integrator. Moreover, it provides a platform for growth and an exciting future for the enlarged Group.”
Read the full RNS here for more further details