News
Date: August 28th 2008
The Board of HOK Group, Inc. and managers of HOK Sports Facilities, LLC have jointly agreed to transfer ownership of HOK Sport Venue Event to leaders of that practice. HOK Group shareholders approved the transaction at an August 28 meeting.
HOK Sport Venue Event has been a part of HOK Group for 25 years and has operated independently as a wholly-owned subsidiary since 2000. The buyout will have no impact on clients or projects of HOK or HOK Sport Venue Event, and both practices will continue to collaborate on projects where their combined expertise will benefit the client and project. Upon completion of the buyout, HOK Sport Venue Event will become an independent company.
Patrick MacLeamy, CEO of HOK, said, "Both practices are enjoying the strongest financial and operational positions in their history. This strategic step will facilitate the continued growth and leadership of both HOK and HOK Sport Venue Event within their respective markets."
Joe Spear, Senior Principal of HOK Sport Venue Event, said, "We are proud of our 25-year association with HOK; indeed it has helped us to grow and build what has become the world’s leading design firm of sports facilities and convention centers. We are very excited about this next phase, in which we intend to build on that success and grow our specialist Sport Venue Event business to the benefit of our clients and our people alike."
Subject to final terms, the buyout is expected to be complete by the end of 2008. In time, under the terms of the arrangement, HOK Sport Venue Event will launch a new corporate name and brand.
About HOK Sport Venue Event
HOK Sport Venue Event is one of the world's leading design firms. Their focus is the creation of exceptional gathering spaces, from stadiums and arenas to convention centers and amphitheaters, with such recent projects as the new Yankee Stadium in New York; the Olympic Stadium for the London 2012 Olympics; Nanjing Sports Park in China; Suncorp Stadium in Australia; and Phoenix Convention Center in Arizona. The firm also has made a worldwide mark managing many aspects of the events themselves, from Olympic Games to Super Bowls. Their architects and event managers are the world's finest and most experienced, drawing from the combined expertise of more than 825 projects with construction value exceeding $20 billion. The company’s client list is diverse and comprehensive; it includes 24 Major League Baseball franchises, 30 NFL franchises, 80 professional and civic arena clients, 40 soccer and rugby teams, 120 colleges and universities, 40 convention and performing arts center clients and 30 major events. With 500 employees in offices in Brisbane, Australia; London, England; Beijing, China; Nashville, Tennessee; Knoxville, Tennessee; Denver, Colorado; New York, New York; and Kansas City, Missouri, their reach is worldwide.
www.hoksve.com
About HOK Group
An employee-owned firm, HOK is among the world’s most diverse and acclaimed architectural design practices. Founded in 1955, the firm plans and designs buildings, communities, cities and regions worldwide. Its project work includes airports, hospitals, universities, offices, courthouses, labs, corporate campuses, museums, hotels, government facilities, shopping centers and other facility types. Current projects include the Midfield Terminal at the new Indianapolis International Airport; Los Angeles County + University of Southern California Medical Center; King Abdullah University of Science & Technology (KAUST) in Rabigh, Saudi Arabia; Lavasa Hill Station development in Maharashtra, India; and Samsung Global Engineering Headquarters in Seoul, Korea.
www.hok.com
For further information please contact
Gina Leo at HOK Sport (Kansas City)
Telephone: +1 816 221 1500
Facsimile: +1 816 221 1578
Email media@hoksve.com