Sirius Real Estate Limited’s £380 Million Acquisition of the the BizSpace Business

In UK Slaughter and May, advised on the matter.

Slaughter and May advised Värde Partners with a team including Robin Ogle (Picture – Corporate M&A), Phil Linnard (Employment), Rob Sumroy (IP&IT), John Nevin (Real Estate), Gareth Miles (Tax M&A and Deal Advisory).

Värde Partners (“Värde”) sold Helix Investments Limited, the holding company of the BizSpace business (“BizSpace”), to Sirius Real Estate Limited (“Sirius”) for an enterprise value of £380 million. 

BizSpace is one of the country’s largest flexible workspace providers, with 72 locations across Great Britain and is home to more than 3,250 small and medium sized businesses. Värde acquired BizSpace in 2015 and grew the business to the size it is today through a nationwide site upgrade plan, multiple acquisitions and a strong management team.

The transaction is structured as a share sale to Sirius by BizSpace Group Limited, a company owned by funds managed by Värde. It is conditional upon completion of Sirius’ capital raise, and is expected to close in Q4 2021.

Slaughter and May’s team included Robin Ogle (Picture), Partner, David Hay, Associate, David McKendrick-Ness, Associate, Angus Tyrrell, Associate, Natalie Goodman, Trainee, Ilia Angelov, Trainee, Gareth Miles, Partner, Deeksha Rathi, Associate, Victoria Hine, Associate, Phil Linnard, Partner, Matthew Ward, Associate, Rob Sumroy, Partner, Issabella Cardu, Associate, John Nevin, Partner and Emily Applegarth, Associate.

Involved fees earner: Emily Applegarth – Slaughter and May; Issabella Cardu – Slaughter and May; David Hay – Slaughter and May; Victoria Hine – Slaughter and May; Phil Linnard – Slaughter and May; David McKendrick-Ness – Slaughter and May; Gareth Miles – Slaughter and May; John Nevin – Slaughter and May; Robin Ogle – Slaughter and May; Deeksha Rathi – Slaughter and May; Rob Sumroy – Slaughter and May; Angus Tyrrell – Slaughter and May; Matthew Ward – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Värde Partners;

Author: Giulia Di Palma