Foster and Partners

Deal Summary

Catalyst advised Lord Foster and the minority shareholders of Foster + Partners on a development capital investment by 3i plc in a deal valued at over £300 million.

Based in London, Foster + Partners have led the market in premium architectural design for the last 40 years. The partnership employs more than 900 highly talented and dedicated staff in its 18 international offices and has worked in 61 countries and over 250 cities around the world.

Foster + Partners is a global brand, and the business has produced landmark designs from iconic buildings to bridges, yachts and furniture. Signature buildings designed by Foster + Partners include The Reichstag in Berlin, Chek Lap Kok Airport in Hong Kong, Hearst Tower in New York, 30 St Mary Axe Swiss Re in London and the new Wembley Stadium.

What difference did we make?

Catalyst was recommended to Lord Foster, and was initially appointed to find a capital structure to deliver meaningful succession beyond the lifetimes of the existing shareholders as well as create an equity structure to incentivise, retain and attract the best quality architects in the world.

The shareholders' major concern though was how an incoming financial investor would interact in a people-based, design-led business with a unique culture.

Our greatest challenge to complete this landmark deal was ensuring the business had the optimal equity ownership structure and access to funding to take advantage of the growth opportunities that existed globally and also to meet the exacting objectives set by the shareholders.

3i was chosen to be a minority investor and we structured the board so that the executive directors retained control, unusual features for a deal of this size.