Spectrum Corporate Finance has advised the Directors of Clarendon Business Centres (Clarendon) on the acquisition of Circle Offices Limited and the associated debt raise to fund the purchase.
Spectrum acted as lead and debt advisor and assisted Clarendon with the initial negotiations, deal structure and debt funding through HSBC, as well as project management through to completion.
Founded by the Cooper family in 1998, Clarendon now operates 32 serviced and managed offices across the South of England and London under the brands of Clarendon, Reflex Managed Offices (Reflex) and now Circle offices.
With award-winning business centres, Clarendon offers clients a wide-range of flexible working solutions, including fully serviced and managed offices, virtual offices and meeting room hire.
The company has delivered consistent growth over the years, and in particular over the past three years following new London office openings, and the acquisition of Reflex in 2015; a deal which Spectrum also advised on.
“As a company, we continue to grow organically and by acquisition. Circle Offices adds to our London portfolio in the heart of the city’s financial district near Liverpool Street station. Following the acquisition of Reflex Managed Offices in 2015, we were under no hesitation to re-engage with Spectrum Corporate Finance to assist us through our latest acquisition. Once again, the Spectrum team provided first-class support in all aspects of the deal from initial negotiations, deal structuring and securing credit approvals, through to handling all the banking legal documentation and now in their post-deal support. They are a team who consistently deliver and who work tirelessly on every detail of a transaction in order to ensure a successful completion for everyone involved.”Julian Cooper, Managing Director of Clarendon