The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Friday, 14 August

Buying and Funding - Software and Fit-out Firms' Financials

02 August 2017 | Updated 01 January 1970

Service Works Group (SWG), the international provider of facilities, property and workplace management software, has been acquired by Addnode Group, a European supplier of software and services for design, construction and product data information to over 600,000 engineers and administrators.

SWG will continue to design, develop and support its FM software QFM. The move will strengthen SWG’s core services, allowing the company to expand its product offering and continue to meet the changing demands of the FM industry.

Addnode Group’s Design Management division has a strong service and FM software offering in the Nordic countries under the brand Symetri. SWG and Symetri will work together on a global basis. 

Gary Watkins, CEO of SWG said: “We will be able to deliver a broader technology and service platform. Together with Symetri we will be able to provide a more extensive and compelling offering.”

Rolf Kjærnsli, President of Addnode Group Design Management added: “With the acquisition of SWG we are now expanding into new geographies as well as strengthening our FM product portfolio.   As a result, we will be able to jointly deliver a more extensive portfolio of solutions to our customers in both the Nordic countries, where we have a significant position, as well as in the UK and other markets, such as Australia and Canada, where SWG has a strong presence.”


Lucas, a retained client of Meta Corporate Finance, has secured £880,000 in a refinancing exercise with HSBC. This will enable Lucas to invest in the business.

Meta Corporate Finance and Lucas have a history dating back 7 years when Danny Lucas, Executive Chairman and Managing Director approached Meta to assist with an MBO of the business.  Meta have continued to be involved with Lucas in a business strategy role.  Meta has also assisted Lucas with the recruitment of a Financial Director, Sean Rowbotham, one of Meta’s Associates, who has been fundamental in securing the refinancing with HSBC.

Lucas recently won the Construction News Awards Specialist Contractor of the Year (turnover under £100m) and the Business Commitment to the Environment award at this year’s KEiBA Awards.

Danny Lucas said: “This refinancing exercise allows Lucas to continue to invest in the business.  Meta are always willing to help and have assisted Lucas with many different aspects since our initial MBO, including commercial development opportunities.”

 Alan Hopkins, HSBC’s Area Director in Kent, said: “We are pleased to have supported Lucas with an £880,000 finance package to enable further investment in the business and continue its development and growth. Lucas is an ambitious company that has been recognised with a number of impressive industry awards, we look forward to seeing what more they can do in the future.”

 Brian Weare, HSBC’s Regional Director for the South East region, said: “The launch of our £10bn SME fund with £200m allocated specifically to Kent reaffirms our commitment to support the growth of Kent SMEs of all sizes, from start-ups to established businesses.  We have so many ambitious businesses in our region who are keen to grow locally, nationally and internationally. This fund is all about helping those businesses make investments that will enable them to achieve their goals while stimulating our local economy and creating jobs.”

Picture: The Lucas Fit Out division did The Shard

Article written by Brian Shillibeer | Published 02 August 2017


Related Articles

Getting Sporty - Sodexo In Major Transfer Deal

Sodexo and Olympus Partners has announced (Nov 15) that Sodexo has signed an agreement to acquire Centerplate, Inc. a provider of food and beverage, merchandise and...

 Read Full Article
FM - Here Is THE News

BBC - Here is the News The Beeb will continue receiving its FM from Interserve in a £140 million contract running until 2023. This latest four-year extension to...

 Read Full Article
Squaring It With Qube

MRI Software has acquired Qube Global Software, a UK based provider of property and facilities management Solutions. The acquisition, according to MRI, extends the...

 Read Full Article
Sprinkling the Magic - Cordant Shares Wealth

The Cordant Group, a massive recruitment business with a substantial FM services arm has become a Social Enterprise. Meaning the majority of the Group's profits will...

 Read Full Article
Propelling Propelair. Massive Investment Secured

Propelair, a ThisWeekinFM Partner, has seen Investec and fund managers Earth Capital Partners (ECP) and Universal Partners (UP) make a substantial investment in the maker...

 Read Full Article
ABM Buys GCA Services Group

September 1 saw ABM announce (in New York) that it had completed its acquisition of GCA Services Group for approximately $1.25 billion, consisting of approximately $851...

 Read Full Article
Ground Control to Major Deal

Ground Control has strengthened its winter maintenance capabilities through the acquisition of Litter Boss, claiming the acquisition of increases nationwide economies of...

 Read Full Article
Bidvest Group Acquires Noonan

The Bidvest Group has completed an agreement with the majority shareholder in Noonan, Alchemy Partners LLP, which will see Bidvest acquire the entire shareholding in...

 Read Full Article
Taking Controls

Johnson Controls and Tyco have finally completed their merger to create what  many would argue is the world's largest building controls developer, manufacturer...

 Read Full Article
EE By Gum - BT Takeover

The Competition and Markets Authority (CMA) has provisionally given its consent to BT’s widely expected acquisition of EE. One major factor behind the decision...

 Read Full Article