Canadian outfit snaps up Nightingale Associates
Nightingale Associates has been bought by Canada-based architect IBI Group for £13.1 million
The news comes two months after parent company Tribal Group decided to offload the healthcare specialists ‘following a widescale review of operations’.
Nightingale’s senior management team will be transferred with the sale to the Canadian transport and systems specialists, but no statement has been issued to confirm whether redundancies or office closures may be part of the deal.
The practice, which employs 260 staff across seven offices and was ranked as the UK’s 13th largest practice in the recent AJ100 league table, has a raft of major hospital and educational building projects including the £840 million Glasgow Southern General Hospital scheme.
At the end of last year Nightingale had assets of £14.1 million, making a profit of £1.3 million from a turnover of £17.4million.
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.’
Tribal in 2002 bought the practice for £9 million.
No-one from Nightingale Associates was available to comment.