Slaughter and May is advising Värde Partners (“Värde”) on its sale of 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.
Natalie Goodman / Trainee, Ilia Angelov / Trainee