BGF Quoted backs Styles & Wood plc
In June 2015, BGF invested £3.3m in Styles & Wood Group plc (LSE: STY), the Altrincham-based integrated property services and project delivery specialist, to support its long term growth strategy.
BGF invested alongside Henderson Volantis which also committed £3.3m to Styles & Wood for a minority stake in the business.
The co-investment brought two high quality institutional investors onto the Group’s share register and in doing so, helped the business to accelerate its growth objectives by strengthening the company’s balance sheet and providing a more appropriate capital structure. In addition, BGF’s investment allowed the Group to continue its diversification strategy and take advantage of growth opportunities available to it including, possibly, acquisitions of other businesses.
This was BGF’s second investment in a publicly listed company, having backed AIM-listed carpet and floorcovering manufacturer Victoria plc, which is based in Kidderminster, in September 2014.
Styles & Wood provides a range of property services to retail, banking, commercial and public sector clients. The Group’s services include design, building intelligence systems, renewable energy solutions and project delivery. Operating nationally from its head office in Altrincham, the business has regional offices in London, Nottingham and Lancaster and employs 285 people across the UK. Clients include Tesco, Waitrose and Barclays.
BGF is backing a strong management team led by Chief Executive Officer, Tony Lenehan, who was appointed CEO in January 2011. He joined from Bovis Lend Lease where he held executive responsibility for the company’s regional construction business. Previously he held the role of Managing Director for Carillion’s national building and integrated property solutions businesses. Matt Widdall will join the Styles & Wood Board as Non-Executive Director on behalf of BGF.
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