Bridges Ventures exits The Office Group

The operation was funded by the chairman of an office services provider, Esselco Lloyd Dorfman, who believes that a future merger of the two companies will allow them to expand into a growing market.

Bridges Ventures provided early funding for The Office Group in 2003 with a £1.6m investment, acquiring a majority stake in the business. The private equity house later financed the company's acquisitions of new property, investing £2.5m in 2004 and £2.2m in 2007.

Founded in 2003, The Office provides small businesses with affordable office space in London. It forecasts revenues of £7.29m and EBITDA of £4.5m for 2010.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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• Management buy-back