Deal is expected to complete by next year
AA Projects is being bought out by German firm Drees & Sommer for an undisclosed sum.
The £20m turnover consultant was set up in 1999 and employs 200 people. It underwent an MBO four years ago.
AA has six offices in the UK, including London, Birmingham and Manchester, and specialises in education, residential and healthcare.
Drees & Sommer, which is headquartered in Stuttgart, has bought a minority stake in AA Projects which it said will be under its full ownership by the end of next year.
Steffen Szeidl, chief executive, Drees & Sommer said: “We already have two offices in the UK, but our investment in AA Projects will provide significant opportunities to expand our UK business.
“With this merger, our clients will gain the best of both worlds-the German heritage for quality, precision and engineering combined with the UK’s reputation for flair and innovation in a respected regulated environment.”
The firm has 46 locations in Europe, Middle East, China and Asia Pacific, with over 4,000 employees worldwide and an annual turnover of €517m (£430m).
AA’s management led by managing director Kenneth Wood staying with its new owner, the firm said.
Among the schemes the firm is currently working on is the planned makeover of Parliament as well as the £100m Harborne Hospital in Birmingham being built by Vinci. It will be used by both private and NHS patients.
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