Toronto-based Ingenium buys stricken architect for undisclosed sum
Administrators PricewaterhouseCoopers have announced that Archial, which went into administration last week, has been sold to Ingenium group for an undisclosed sum.
The multidisciplinary consultancy is based in Toronto and employs 800 staff, who perform a variety of services including engineering, architecture, and project management. The new business is called Ingenium Archial Limited.
It is not known what will happen to the 400 staff at Archial.
In a statement David Chubb, joint administrator and partner at PwC, said: 鈥淲e are delighted to be able to secure this sale and provide business continuity for customers, suppliers and employees alike in these uncertain times.
Trading a professional services business in administration is extremely difficult and this success has only been possible as a result of the support of all these stakeholders. I would like to thank them for their assistance throughout this difficult period.鈥�
No comments yet