Extentia secures £10m investment
The Sale-based property services group formed through the merger of Styles & Wood and Southerns has attracted £10m backing from investor BGF.
It marks the second investment by BGF in the company; the investor previously backed Styles & Wood in 2015.
Extentia was formed last year and is made up of 11 businesses. These include interior design consultant SpaceInvader; furniture supplier Ralph Capper; engineering consultant GDM; and fit-out and programme manager Styles & Wood.
The group was created when Central Square Holdings acquired Styles & Wood Group, the property services business, and furniture fixtures specialist Southerns, deals which completed in March 2018.
The investment from BGF will be used to support potential acquisitions by Extentia as well as growth in existing and new sectors.
The group expects to post a revenue of £230m and EBITDA of more than £16m in its upcoming results, covering the year to 30 June, and forecasts revenue will hit more than £300m in its 2021 financial year.
Tony Lenehan, chief executive of Extentia Group, 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.”
Steve Parkin, majority shareholder in Extentia Group and founder of Clipper Logistics, added: “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”.
