News

HOWARD SANDCLIFFE INVESTS IN ADVANCED INTERIORS

June 2007

Howard Sandcliffe Investments (HSI), the strategic partnership between The Howard Group and Sandcliffe Investments, Milton Keynes, has invested in Wokingham-based fit out company Advanced Interiors. The transaction, which involved a significant investment in excess of £6m, is in line with the company's strategy of acquiring businesses operating within the building services and construction sector.  

Advanced Interiors, formed in 1996 by Bernie WIlks, is one of the country's leading fit out companies specialising in suspended ceilings and partitioning. Its client base includes major High Street names and PLCs, including American Express, Boots, M&S, Asda, Honda, BAA and McDonald's. The transaction for Howard Sandcliffe Investments is their second within the sector and complements their recent acquisition of A T Jones in 2006. A T Jones is also a highly respected supplier of dry lining and high value suspended ceiling solutions and has recently expanded operations including the opening of a new office in Milton Keynes serving the Midlands region.  

Nicholas Bewes, MD of the Howard Group, commented, "We are committed to increasing our portfolio of investments with our partners in this sector over the coming years.  This investment in Advanced Interiors complements our core property business and provides numerous opportunities for us to explore synergies and common ground between the businesses.   Advanced Interiors is highly regarded within the construction industry both by end occupiers and main building contractors alike.  As a Group, they have participated in some of the UK's most prestigious construction projects".  

Advanced Interiors' management team will continue, guided by founder and MD, Bernie Wilks, who commented, "It was very important for me to find an organisation with people I could work with, share similar goals and have the investment potential to take Advanced Interiors onto its next level of growth and development".    

The Howard Sandcliffe Investments team was advised by Mazars Corporate Finance and MK-based Dunhams Solicitors. Senior debt provided by the Co-operative Bank plc.