Conyers & Associates (C&A) founder Harold Conyers has been bought out by his management team of managing director Malcolm Sutherland and director Charlita Saltus, the company announced yesterday.

The management duo, who were already shareholders in the architectural firm, bought the remaining shares from Mr. Conyers as part of a succession plan.

And they have set themselves a number of goals for the future including a seamless transition of the ownership, to work out its position in the market and improve its business model through offering the best quality service.

In an interview with The Royal Gazette, the pair revealed that they sat down with Mr. Conyers in 2003 and conducted an independent review of the way forward for the company and drew up a succession plan which they have stuck with to this day, successfully completing it ahead of time.

The pair said in a joint statement: "We are extremely excited about the future that is ahead and wish to thank Mr. Conyers for presenting us with this opportunity."

Mr. Conyers said: "In our original C&A strategic plan back in 2003 we clearly stated that we knew we must forge relationships and strategic partnerships between our team and our clients and that in order to accomplish this we needed to establish a clear succession plan that would come to fruition within a period of five to seven years.

"And as the famous movie saying goes, it is great when a plan comes together. I am very happy for both Malcolm and Charlita and I know that they will continue to build on the strong and resilient business model based on Conyers' mission of 'providing quality service, resulting in the best solutions and building environments for our clients'."

Mr. Sutherland and Ms Saltus said the conclusion of the deal was the realisation of a vision, but above all they wanted to ensure it was a seamless transition, as well as to look at the company's profile on a regular basis with the aid of an independent party to establish how it fits in within the current economic climate.

In addition they have been continually seeking feedback from clients on how to enhance its product, with Mr. Sutherland adding that while they worked in a fun environment with a great team, it was important to understand the impact of the global recession facing their industry and how to navigate their way through it.

Despite the economic crisis, the company has seen business pick up over the past year-and-a-half, taking on two new employees to boost its staff to 14 and being able to commission overtime work following a recent freeze.

In an extremely competitive market place, they have managed to more than hold their own through a diverse portfolio of clients, including everything from the Lantana resort and the first public private partnerships in Bermuda in the shape of the new King Edward VII Memorial Hospital building development to small residential and renovation projects.

They said: "Harold developed an extremely strong team at the firm with sound management and leadership, of which we have played an integral part, having been with him for eight and 12 years respectively. Our decision to buy Harold out of the firm has been a major goal for all concerned and it is indeed a proud moment for all to reach this part of our plan, despite the recent global economic downturn.

"We are confident that C&A's success will continue and it is for this reason that it has now been decided to make this buy-out a reality, the primary goal of which is to be a seamless transition with no business disruption."

Talking about the state of the industry, Mr. Sutherland said that while he didn't believe they had seen the bottom of the market, it only took two or three significant players to change the outlook, while Ms Saltus added that there had been signs of optimism, including the boost provided by Government projects such as the new court building and police station in Hamilton.

Mr. Sutherland also felt that a steady recovery was in the best interests of the Island's construction industry, with more sustainable and green developments being brought to the table as people become aware of their impact on the environment.

Mr. Conyers said: "C&A has strength and depth in all areas and the new team is very positive about the future, especially with the book of business currently planned for a continued well-blended portfolio of private and public sector projects."

Mr. Conyers will stay on as a business consultant to the firm for the foreseeable future.