"The Cavendish Team - led by Andrew Jeffs - offered a fantastic service and were instrumental in making the deal happen.
A great result was achieved for all parties. We would certainly recommend them to other business owners looking to achieve an exit."Paul Slinn, Managing Director of Flexioffices
Cavendish Corporate Finance, the specialist sell-side M&A firm, has advised the shareholders of Flexioffices (Flexi), one of the UK’s leading serviced office brokers, on the company’s sale to its management team in an MBO backed by NVM Private Equity (NVM).
Headquartered in London, and founded by Paul Slinn in 2000, the Flexi team are experts in finding the perfect workplace solutions for individuals, businesses and organisations through specialist knowledge of the entire UK flexible workspace market. Paul Slinn recognised a gap in the market to source flexible office space for SMEs. He believed the changing working practices of the millennial generation and favourable shifts in both technology and regulation were combining to drive demand for more flexible office arrangements. Managing Director, Geraint Evans, joined the company a few years ago to drive this strategy and accelerate the growth of the business.
Flexible office space provides a fully-inclusive, ready-to-go office solution and is available under licence agreements which are more flexible than traditional leases. The spaces typically come fully furnished with the necessary support services allowing companies to focus on running their business operations.
Led by an experienced management team, the company works with 3,000 flexible office facilities across London and the UK, offering a wide variety of styles and designs from traditional office space to modern and quirky. Flexi has relationships with many providers such as IWG, The Office Group, WeWork, Landmark, Citibase and London Executive Offices and some of its major clients include ASOS, Bovis Homes, Eventbrite, Spotify, Deliveroo and Argos. The investment from NVM will help to accelerate Flexi’s international growth and drive continued development of their technology.
Cavendish Corporate Finance, which advised Flexi shareholders, has an extensive track record in the property sector. Recent high-profile deals include advising on the sales of Headspace Properties Limited to BE Offices Limited, Property Search Group to Property Information Exchange, and Marsh & Parsons Limited to LSL Property Services.
The Cavendish team was led by Andrew Jeffs, Partner.
Andrew Jeffs, Partner, commented:
“We are delighted to have advised Flexioffices’ shareholders on this hugely successful transaction, which highlights Cavendish’s expertise in the property sector. The global flexible office market continues to strengthen and NVM Private Equity are very well placed to support Flexioffices in its next phase of growth.”
Geraint Evans, Managing Director of Flexioffices, said:
“The business has achieved great things to date and now with NVM’s backing and an experienced management team, the business is set fair to play its part in the continued global appetite for flexible workspace.”
Peter Hodson, Investment Partner of NVM Private Equity said:
“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. NVM look forward to supporting Geraint and the team as they build on the good work already done.”