Public sector architect bought by UK subsidiary of Canadian design group IBI
Public sector services firm Tribal has sold its subsidiary Nightingale Architects for £13.1m.
Nightingale has been bought by IBI Holdco, the UK subsidiary of Canadian design group IBI.
Nightingale employs 260 staff across seven offices and had a turnover of £17.4m in the year ending December 31 2009. The senior management team will be transferring with the business.
Peter Martin, chief executive of Tribal, said: “Tribal’s core markets are education, health and government, for which we provide service delivery, advisory and technology solutions and so Nightingale is no longer central to our strategic direction. We wish both parties continued success in the future.”
Of the £13.1m, £4.2m will be dependent on profit made by Nightingale up to April 2012.