Foster + Partners has recently bought out private equity group 3i’s shareholding in the company, returning 100% of its ownership to the practice. All partners will now be shareholders, increasing share ownership from 80 to all 140 partners. The practice will be led by a new Partnership Board comprising Norman Foster as Chairman, Stefan Behling, Grant Brooker, Nigel Dancey, Spencer de Grey, Gerard Evenden, Luke Fox, David Nelson, Matthew Streets and David Summerfield. This completes the succession plan initiated by Foster + Partners in 2007.
Lord Foster, Chairman and Founder of Foster + Partners commented: “We have enjoyed an excellent relationship with 3i over the last seven years. They have helped us on a number of fronts including strategy, investment in research, governance, planning, accessing new markets and bringing best practice to the way we manage our business. The practice is more international, offers a greater diversity of services and is more exciting than ever before. Today we look forward to continuing to build on our success, but now as a company that is fully owned by its partners and which keeps design excellence at the forefront of everything we do.”