The transaction is being implemented by way of a takeover offer under the UK Takeover Code. Bidco is a newly incorporated company formed specifically for the purpose of making the offer and is backed by Mark Furness, the founder of essensys plc, together with members of the concert party.
Founded in 2006 and admitted to trading on AIM in 2019, essensys provides software and technology to landlords and flexible workspace operators, enabling them to manage and operate technology-enabled workspaces. The offer reflects the concert party’s belief that essensys is well positioned to capitalise on structural shifts in the commercial real estate market, including hybrid working and increasing demand for flexible, technology-enabled space. Private ownership is expected to provide enhanced strategic flexibility and support long-term growth, innovation, and operational efficiency.
The equity capital markets team was led by Samantha Myers and Delphine Currie, alongside Shuwen Yu; the corporate team was led by Ravi Pattani, working with Georgia Crossman, Vivian Chan and Benjamin Gardner; the banking and finance team was led by Maccailein Campbell, supported by William Rees, Alfie Arnold and Helen Penwill; and the tax team was led by Harrison Stimson, with Tom Baxter and James Galliver.
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