Property services firm predicts 20% sales boost at ‘Extentia Group’

The property services business formed through the acquisitions of Sale-based Styles&Wood Group and Southerns is on track to achieve more than a 20% increase in sales for its first full year of trading.

It comes as the new-look business launches its rebrand as Extentia Group today.

The new entity is forecasting revenues of around £230m for the year ending June 2019, compared with £185m to June 2018, together with a significant increase in underlying profit.

The growth follows a range of new contract wins for its suite of complementary real estate asset support services.

The group was created by the acquisition of Styles&Wood Group, the integrated property services business, and furniture fixtures and equipment (FF&E) specialist Southerns, by Leeds-based Central Square Holdings, which completed in March 2018.

Newly-rebranded as Extentia Group, it is made up of 11 specialist businesses offering services across the full lifecycle of real estate assets – from design, project management and delivery, to optimisation, FF&E solutions and facilities management.

The group’s offer is underpinned by a suite of proprietary ‘proptech’ software.

Contract successes in its first year of trading have included:

• Tesco choosing the group’s proprietary estate management software, iSite, to underpin its global property asset management strategy.
• Spatial Initiative – a joint venture with offsite construction company Extraspace Solutions – securing £50m of confirmed orders from the Department of Education, after winning places on several school building and refurbishment frameworks using modern methods of construction.
• Group businesses, including GDM, SpaceInvader, Styles&Wood and Southerns Broadstock, being appointed to deliver a range of design and fit-out projects across the UK, Ireland, Europe and the USA for Deutsche Börse Group.

Extentia Group is backed by Yorkshire-based entrepreneur Steve Parkin, the founder of Clipper Logistics, and is led by chief executive Tony Lenehan, who was responsible for driving impressive growth at Styles&Wood through a major diversification strategy.

Mr Lenehan said: “There is a fundamental link between productivity and the design and operation of real estate assets.

“Our vision for Extentia Group is simple: we will help our clients to create and optimise environments that drive productivity and support stronger performance.

“We’re proud to launch our new brand, which has a unique and highly relevant proposition for the built environment.

“Our 11 businesses have distinct identities and established brand equity with blue chip clients.

“Together they represent an end-to-end capability which is unique in the market.

“This collaboration is already bearing fruit and we will continue to drive integration across the business.”

He added: “Our resilient strategy is focused on predictable, non-cyclical sources of work, and our proprietary technology will add value to clients and unlock new opportunities.

“Following a productive and exciting period spent realising the rationale for bringing these businesses together, my management team and our backers are raring to begin this new chapter of growth and investment in the business.”

Extentia Group has more than 700 employees across 12 UK and Ireland offices.

The 11 subsidiary businesses, including Styles&Wood and Southerns, will retain their existing brands. They are:

GDM – Engineering and environmental design consultants
SpaceInvader – Interior design consultant
Mobias – Multi-change management and transformation specialists
Keysource – Critical environment specialists
Styles&Wood – Built environment programme management and delivery specialists
Spatial Initiative – Experts in modern methods of construction (joint venture with Extraspace Solutions)
SouthernsBroadstock – Leading furniture, fixtures & equipment manufacturers and supply specialists
Ralph Capper – Design-led furniture suppliers
Arctick – Risk management software specialists
iSite – Property estate management software specialists
Concourse FM – Facilities management specialists