HOK Sport Venue Event, a major sports facility design firm based in Kansas City, will split from its parent, HOK Group Inc., following a company buyout by a management team.
The deal, announced August 28, will be completed by early 2009 with HOK Sport acquiring a new brand name. The firm has been part of HOK Group for 25 years, although it has been a wholly owned subsidiary since 2000. The split involves HOK Sport’ 10 top managers buying the value of their firm’s stock from HOK Group. “This is a logical step that will free all of us to focus on core practices,” says Clark Davis, HOK vice chairman.