- A private equity firm has bought UK serviced office broker, Flexioffices, for £8.2 million
- The investment by NVM Private Equity is expected to “accelerate Flexi’s international growth”
- NVM’s management buyout is the latest in a string of significant investments into the sector
One of the UK’s largest and longest-running serviced office brokers, Flexioffices, has been bought by a private equity company for £8.2 million.
Announcing its management buyout of Flexioffices, NVM Private Equity stated that the investment will help to accelerate Flexi’s international growth and continued development of their technology.
Peter Hodson, Investment Partner of NVM Private Equity, led the investment for NVM and has joined the Flexioffices board. He commented:
“Market drivers in the flexible office space continue to be exceptionally strong. Flexioffices represents a unique opportunity within the sector to back a highly experienced management team that has done a fantastic job in growing the business to where it is today.”
Founded by Paul Slinn in 2000, London-based Flexioffices started out as a traditional serviced office brokerage and now works with over 3,000 flexible workspace centres across the UK. Managing Director Geraint Evans, who has almost 20 years’ experience in the sector, said that Flexioffices “has achieved great things to date” and is now “set to play its part in the continued global appetite for flexible workspace” with NVM’s backing.
NVM’s investment in the company reflects continued interest in flexible space as it continues its rapid growth trajectory, and follows a number of other significant investments into the sector. Among them, RDI REIT acquired 80% of four serviced offices managed by Office Space in Town in January 2018, and in 2017, Blackstone bought a majority stake in The Office Group and Carlyle acquired three properties in London for development into flexible space under a new brand, Uncommon.
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The flexible workspace sector continues to grow and demand across the UK saw record growth in 2017, according to Cushman & Wakefield, with London now home to the world’s largest flexible workplace market.
As demand and supply grows, so too does the need for industry suppliers – including search agencies like Flexioffices. NVM’s backing adds significant weight to a company with an experienced management team that has been operating in the sector for almost 20 years.
Peter Hodson added, “NVM look forward to supporting Geraint and the team as they build on the good work already done.”