Earlier this week, The Times reported that UK flexible workspace brand, BE Offices, has appointed Rothschild to advise it on financing options. BE Offices has today informed Allwork.Space that Rothschild’s appointment is to explore financing options that will help the company raise capital and accelerate the growth of the business. According to a spokesperson for BE Offices, the co-founders David Saul and Simon Rusk are not looking for an exit, nor are they seeking a sale of the business, contrary to what is implied by The Times. “BE Offices has appointed Rothschild to explore ways to raise finance, which may include equity, to expand the business from its current portfolio of 21 locations, upwards.” BE Offices has several products including serviced offices, its coworking brand Headspace, and BESpoke, an end-to-end managed workspace offering for corporate clients. BESpoke operates a custom service in which suitable space is identified, refitted and furnished, then contracted to clients on flexible terms. While this model in particular is cash-intensive for the company, it frequently provides surplus space outside of the managed contract, which BE repurposes for use as serviced or coworking space. Therefore, any cash injection for BE Offices is likely to be spread across the company to promote growth across all of its workspace products. “The time is right to expand and develop the company. We have a lot of corporates looking for managed space and the market is booming, not just in London but all over the country.” Facebook Twitter LinkedIn Messenger
BE Offices has confirmed it is not considering a sale following an article in the Times stating it had appointed Rothschild to advise it on a range of financing options including a possible £200m ($240m) sale. A spokesperson for BE Offices said the founders want to raise finance to allow the company to speed up its expansion but are not seeking a sale.