Allyum advises Silversquare shareholders on the sale to Befimmo
Allyum, the Belgian corporate finance advisor, announces the closing of the sale of Silversquare to Befimmo in order to ensure the continuous growth of the Company.
Press Release December 10, 2018 - Brussels.
Befimmo, owner-operator and manager of quality office buildings, announces the acquisition of a controlling stake of 61% in Silversquare, the Belgian market leader in coworking.
The transaction is a clear sign of the ambition of Befimmo and Silversquare to be major actors in the field and to develop the first Belux network of Hybrid Offices. By setting up its first coworking centre in 2008, Silversquare was a pioneer in Belgium and Europe. 10 years later, it manages 5 centres, covering 15,200 m² and has over a 1,000 members (companies).
Today, Silversquare offers inspiring ready-to-use workspaces (including reception, furniture, food & beverage, meeting rooms, IT, copy machines, etc.). It offers flex and dedicated desks or even private office space to SME’s that can be used on a membership basis with flexible duration.
The coworking and flex space market is growing quickly in Europe. JLL registered a growth of 29% in 2017 in the top 20 European flex office markets. In Belgium, only 2% of the market is flex today, lagging most European capital cities, and the segment expands continuously.
With the acquisition, Befimmo will offer different workspace solutions in a Hybrid Offices model, going from the traditional office, over the mixed office with coworking and traditional space, to the full coworking building.
Allyum has assisted the shareholders of Silversquare in the negociation of the transactions’s terms and conditions.
“Having a close partner like Allyum on this case was a great asset for our sale process. Their technical expertise and goal-getting approach made this case a success.”
-- Axel Kuborn, Co-Founder of Silversquare
More about Silversquare
By setting up its first coworking centre in 2008, Silversquare was a pioneer in Belgium and Europe. 10 years later, it manages 5 centres, covering 15,200 m², has over a 1,000 members (companies) and generates a turnover of about €5.3 million.
Today, Silversquare offers inspiring ready-to-use workspaces (including reception, furniture, food & beverage, meeting rooms, IT, copy machines, etc.). It offers flex and dedicated desks or even private office space to SME’s that can be used on a membership basis with flexible duration (1 day, 1 month, 1 year, etc.).
Silversquare takes a proactive facilitation approach in its centres so that they become places that foster knowledge sharing, innovation and networking. Silversquare organises trainings, pitches, think tanks and events in an unique atmosphere. This "Open Incubator" approach is specific to Silversquare, turning its centres into genuine urban business hubs.
More about Befimmo
Befimmo, a Regulated Real-Estate Investment Trust (BE-REIT), listed on Euronext Brussels, is a real-estate operator specialising in office buildings, meeting centres and coworking spaces. Those Befimmo Environments are located in Brussels, the main Belgian cities and the Grand Duchy of Luxembourg.
As a company that is human, a corporate citizen, and responsible, Befimmo offers its occupants contemporary office spaces and related services in buildings that are sustainable in terms of architecture, location and respect for the environment.
By creating such added value for its users, Befimmo also creates value for its shareholders. At 30 June 2018, the fair value of its portfolio was €2.6 billion.
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