Fit-out contractor Styles & Wood announced in December 2017 that it had reached agreement with Central Square Holdings Limited (CSHL) on the terms of a recommended all cash offer to acquire the entire ordinary share capital of the company. The required majority of shareholders have now endorsed the proposed scheme of arrangement.
Shares in Styles & Wood will therefore soon cease to be traded on the London Stock Exchange and the company will be delisted from the Alternative Investment Market (AIM) on 9th March 2018.
Styles & Wood will team up with interiors firm Southerns Group within CSHL. CSHL currently owns 25% of Southerns Group and agreed a deal to buy the remaining 75% conditional on the Styles & Wood takeover completing. Leeds-based Southerns Group supplies furniture, fixtures and equipment (FF&E).
Styles & Wood chief executive Tony Lenehan said: “Today formally marks the beginning of an exciting new chapter for Styles & Wood Group and its people, customers, business partners and broader stakeholders. This transaction will create an enlarged business committed to the creation of a best in class offer within the property services market with a true end-to-end capability, which will significantly enhance the breadth of services offered to existing and new customers of the group.”