A deal for Leeds-based Central Square Holdings (CSHL) to acquire two North West interiors companies has completed.
KPMG supported CSHL on the acquisition of Sale-based Styles & Wood Group plc (S&W) and Southerns Group, which is headquartered in Bolton.
The acquisition of property services group S&W received shareholder approval in February 2018 and has now completed after shares were delisted from the London Stock Exchange.
CSHL held a 25 per cent equity interest in Southerns, a furniture, fittings and equipment, and interiors specialist.
As part of the transaction, CSHL entered into a share purchase agreement to buy the remaining 75 per cent conditional on the S&W takeover completing.
Tony Lenehan, chief executive of the new group, said: "Today officially opens a new chapter for S&W and Southerns Group. The combination of both businesses creates a truly unique offering within the property services market.
"We believe our new group will bring exciting times for everyone involved and benefits to our customers, employees, and partners."
KPMG's debt advisory team provided financing advice to CSHL and comprised Nick Dodd, James Hatton, Meredith Casey and David Madoc-Jones.
KPMG’s transaction services team, which provided due diligence on the deal, was led by John Moth, who was supported by Philippa Keasey and Chris Percy.
Nick Dodd, head of debt advisory at KPMG in the UK, said: "The funding provided for this transaction demonstrates the clear support from HSBC and Tosca Debt Capital for the future growth performance of the combined business in the property services sector.
"It also signals the strength of the northern debt market and the ability of management teams in the region to access the scale and flexibility of debt products that can help them realise their commercial ambitions."