Firm planning major expansion after landing multi-million pound backing
A Manchester property services firm has landed a £10m funding package.
Extentia Group, which was formed through the acquisitions of Styles & Wood Group PLC and Southerns, has been backed by BGF.
BGF previously invested in Styles & Wood in 2015 to support the management team’s successful growth strategy while it was listed on AIM.
Extentia Group includes 11 specialist businesses, which are able to deliver integrated end-to-end services both nationally and internationally across the full lifecycle of real estate assets – from design, project management and delivery, to optimisation, FF&E solutions and facilities management.
Extentia is looking at a number of significant organic growth opportunities, within existing sectors and also in new, high-growth markets.
And the firm is actively considering a number of strategic acquisitions, which would be immediately earnings-enhancing and extend further Extentia’s market reach.
The group expects to report EBITDA of over £16m on revenues of over £230m in June.
Extentia’s strategic plans see revenues growing to £280m over the next 12 months and over £300m the following year.
Chief executive Tony Lenehan said: “We are excited about the growth opportunities that we are pursuing, not only in existing markets, but in further sector diversification.
“We are delighted to be working with BGF as one of our investors again. We’ve always worked well together, and they were a natural choice to be a long-term investment partner for Extentia Group.”
Matt Widdall, who led the investment for BGF, said: “We believe in the power of brilliant businesses to drive innovation, generate progress and deliver prosperity. We are excited by the growth ambition and opportunities for Extentia Group and our investment will support this exciting growth trajectory.”
BGF was set up in 2011 and has invested more than £1.9bn in over 270 companies, making it the most active investor in the UK and globally by number of transactions.
BGF has £2.5bn to invest in UK SMEs and in Ireland, and an additional €250m to support Irish businesses. Earlier this year, Canada launched its equivalent – the Canadian Business Growth Fund – based on BGF’s funding model, and Australia is now actively exploring the approach as well.
BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs.
Steve Parkin, majority shareholder in Extentia Group and founder of Clipper Logistics, confirmed: “Extentia Group is on an exciting growth journey as a newly formed Group and attracting an investor like BGF reaffirms the strength and appeal of its ambitious growth strategy”.
