HOK Sport, the architect firm behind the 2012 Olympic stadium and Arsenal's Emirates Stadium, is to separate from parent group HOK.

HOK Sport's head, Rod Sheard, is leading the management buy out, which was funded by himself and other executives.

The Kansas City, USA-based HOK Sport Venue Event – to give the company its full name – became an independent yet wholly-owned subsidiary of HOK in 2000. The two companies will continue to collaborate "on projects where their combined expertise will benefit the client and project".

Joe Spear, senior principal at HOK Sport, said: "We are proud of our 25-year association with HOK, indeed, it has helped us grow and build what has become one of the world's leading design firms of sports facilities and convention centres.

"We are very excited about this next phase, in which we intend to build on that success."

HOK's chief executive, Patrick MacLeamy, added: "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 within their respective markets."

The deal is expected to be completed by the end of this year, and HOK Sport will renamed and rebranded.