CENTRAL SQUARE HOLDINGS LIMITED BRINGS STYLES&WOOD AND SOUTHERNS TOGETHER TO BEGIN NEW GROWTH CHAPTER’
Central Square Holdings Limited (CSHL) has acquired Styles&Wood Group plc, and combined it with Southerns Group, to create a new business with a credible reach across the full spectrum of support services to the built environment.
CSHL is a large, UK-based business with specialisms in the sourcing, manufacture and management of life-cycle solutions for furniture, fixtures and equipment, through its existing equity interest in Southerns Group. Styles&Wood is a property services and project delivery specialist, which has continued to expand its service line capabilities with the acquisitions of Keysource Limited in 2016 and the GDM Group Limited earlier this year.
Combing Styles&Wood and Southerns, establishes a new, enlarged business, offering a fully integrated solution and a best-in-class service offer. The expanded Group will have a wide range of major corporate and public sector customers and a strong and predictable source of accessible business opportunities.
Under the terms of the offer, which is yet to be approved by Styles&Wood’s shareholders at a General Meeting, each Styles&Wood shareholder will be entitled to receive 465 pence per share, which equates to premium of 24% for each share prior to the offer being announced.
On successful completion of the offer, the executive team of the enlarged entity will include Tony Lenehan, Phil Lanigan and Paul Mitchell, who will become CEO, CFO and Chairman respectively of the enlarged Group.
Tony Lenehan, CEO of CSHL, commented: