Breaking: Styles&Wood Group valued at £42.5m in acquisition deal

Property services and project delivery business Styles&Wood Group plc is set to combine with Central Square Holdings Limited (CSHL) as it embarks on its next chapter of growth.

The Sale-headquartered company confirmed this morning (December 21) that its independent directors reached an agreement with CSHL on the terms of a recommended offer to acquire the business.

Styles & Wood’s entire issued and to-be-issued ordinary share capital is valued at around £42.5m under the offer price – the terms of which are, however, yet to be approved by the company’s shareholders at a general meeting.

CSHL is a large, UK-based firm specialising in furniture, fixtures and equipment through its equity interest in interiors business Southerns Group.

Styles&Wood believes aligning with CSHL will help strengthen its client base and establish a strong, predictable source of business opportunities.

Upon completion, the offer will create an expanded executive team that includes Tony Lenehan as CEO, Phil Lanigan as CFO and Paul Mitchell as chairman.

Tony Lenehan, currently chief exec of Styles&Wood, said: “In recent years, Styles&Wood has made significant progress with its diversification strategy, driving strong organic growth supplemented by value accretive acquisitions that have broadened the group’s service line capabilities.

“We are confident that CSHL, with its commitment to the creation of a best in class offer within the property services market, is the right partner to take Styles&Wood to the next chapter of its growth story and we are excited about the future.”

A team from law firm Hill Dickinson LLP advised Styles & Wood.