AA Projects founder Paul Allen will remain as chairman following MBO
AA Projects’ managing director Kenneth Wood has led a management buyout of the Manchester-based consultancy, with founder Paul Allen selling his majority shareholding in the group.
Having started his career as a graduate surveyor at Bucknall Austin in 1987, Allen founded AA Projects in 1999. He will remain chairman following the buyout.
Long-standing directors Niall Wright and Kevin McEvoy have also sold their interest in the firm to the Wood-led team.
Wood, who joined AA Projects in March 2017 from Sweett, where he was regional managing director for England and Wales, said: “It’s an exciting new chapter, where clients can continue to expect to deal directly with the owners of the business, bucking the trend of corporate takeovers.”
AA Projects has worked on a number of schemes across arts, heritage and commercial sectors, including the refurbishment of the grade I-listed Jodrell Bank Observatory in Cheshire and the Whitworth art gallery in Manchester.
Reporting turnover of £10m, it has employs more than 100 staff working in six offices across the UK.