Architectus Services Set for Major Shareholder Renovation

By the Editorial Team · Monday, November 2, 2026

Mercury Capital is preparing to sell its approximately 50 percent stake in Architectus, an Australasian architecture firm valued at over $500 million, by engaging Luminis Partners to seek private equity or trade buyers. The firm has grown significantly through mergers and acquisitions, reporting $219 million in revenue and $20.6 million in profit for fiscal 2026, positioning it for a high valuation and a strategic ownership transition.

Mercury Capital is preparing to initiate a major change to the shareholder structure of Architectus, the prominent Australasian architecture and design firm known for projects such as the State Library of Victoria redevelopment and Sydney’s Salesforce Tower. The private equity firm has engaged Luminis Partners to explore sale opportunities with other private equity investors and potential trade buyers, marking a significant move five years after Mercury’s Fund 3 acquired approximately a 50 percent stake alongside the company’s lead architects.

Sources familiar with the matter indicated that the deal could value Architectus well above $500 million. Founded around the year 2000 by a group including current CEO Ray Brown, Architectus has grown to become one of the largest multidisciplinary design practices in Australia and New Zealand, operating 13 studios and employing more than 800 professionals, including architects, interior designers, and urban planners.

The firm’s portfolio includes high-profile office developments such as Sydney’s Brookfield Place and 1 Bligh Street, infrastructure projects like the newly opened Western Sydney Airport, and data centers managed by NextDC in both Sydney and Melbourne. Architectus also serves a diverse client base across sectors including healthcare, education, sports, and community infrastructure.

Architectus has expanded significantly since Mercury’s initial investment. Notably, it merged with Conrad Gargett, a historic firm with roots dating back to 1890, known for designing public buildings, schools, and private residences in Queensland. Conrad Gargett itself was formed through a series of mergers, including ones with Riddel Architecture and Ancher Mortlock Woolley. In 2025, Architectus further broadened its reach by acquiring Carabiner, a smaller Perth-based practice with 21 employees.

The firm’s growth reflects a roll-up strategy. For the 2026 fiscal year, Architectus reported revenue of $219 million, an increase of approximately 21 percent year-on-year. After-tax profit rose by 40 percent, reaching $20.6 million. Potential investors have been advised to focus on an earnings before interest, taxes, depreciation, and amortization (EBITDA) figure exceeding $50 million. Architectus carries debt of around $50 million and lease liabilities just under $26 million. The firm had net assets totaling $104.8 million as of June 30, 2026, a conservative balance sheet positioning that may lead to valuation metrics similar to those applied in consulting or law firms.

Clark Perkins, Mercury Capital’s founder, chairs the Architectus board and is reportedly looking to realize a return on the firm’s investment. This move follows another recent transaction by Mercury’s Fund 3 portfolio company, TEG, which secured $100 million in super senior debt financing in August for its Ticketek operations.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.