London-based Bizspace set for growth following 100% sale to Värde Partners

London-headquartered Bizspace, a provider of flexible business accommodation, has been sold to Värde Partners.

Värde, a $10bn global alternative investment firm, acquired all the shares and assets of the Bizspace group of companies and, through its acquisition, substantially deleveraged the group’s balance sheet.

The change in ownership allows Värde to go ahead with future growth plans and continued customer enhancement.

Bizspace currently has 97 sites, comprising six million square feet, across England and Wales.

Gareth Evans, managing director of Bizspace, said: “Bizspace’s focus on supporting small and start-up businesses remains at the forefront of our business model. The sale is fantastic news not only for Bizspace and our staff, but for all our existing and potential customers.

“This deal will allow us to acquire new business centres, ensuring continued growth to meet strong customer demand, and will allow us to make additional investments in our current sites. Our ongoing focus on customer satisfaction produces great ideas for improvement, ensuring that our customer experience is second to none.”

Tim Mooney, Värde’s senior managing director, added: “We are pleased to be working with Gareth and the team. Bizspace has a proven business model and continues to support growing businesses, particularly the small business segment which accounts for one in every three jobs in the UK. We hope our ownership will enable the company to increase that support through the acquisition of additional under managed assets.”