West Yorkshire commercial fit out specialist Stonehouse Projects Ltd has entered into a joint venture with international investment group LSG Holdings as it seeks to expand operations.
The Bradford-based business employs 25 people, and is active throughout the 海角视频 as a refurbishment contractor, delivering significant city contracts.
It has traded for 16 years under the guidance of Steve and Fleur Waugh.
LSG is a 海角视频-based single family office active in direct investments across real estate, private equity and venture capital both in the 海角视频 and internationally.
It has a history of backing successful SMEs and management teams in the Yorkshire region with previous investments in Lifterz and The Progeny Group.
The Stonehouse team will be working alongside LSG’s managing director, Patrick Leoni Sceti, to further strengthen the existing business and develop the group’s property investment and development arm.
Mr Waugh, managing director of Stonehouse, said: “This is an exciting time for us all. Having worked with Patrick on many refurbishments during Progeny’s growth and also the hugely successful, award-winning development of the birth place of Joseph Rowntree, it was evident from the start that we had the same appetite for sourcing, developing and delivering exceptional projects.
"The timely coming together of LSG Holdings and their unrivalled financial know-how together with their experience in backing successful SMEs combined with the knowledge and expertise of the Stonehouse team has given us a winning formula. By pulling on multiple years of well-honed skills and proficiencies across the group we can offer something quite unique.”
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The Stonehouse brand will be retained.
Mr Leoni Sceti said: “this joint venture strengthens LSG with an entrepreneurial founder backed by a strong team with a proven track record and a deep understanding of the refurbishment market. Financial know-how and the resources necessary to deploy this skill set on owned investment property is a formula that is an exciting blend of our collective knowledge and expertise. Having been clients of Stonehouse for a number of years we are very excited at the opportunity of taking this partnership to the next level.”
A team led by Alistair Scott-Somers of Progeny Law and Tax and the Leeds office of Murray Harcourt led by Mark Hunter advised LSG on the investment.
Susan Clark of LCF Law, Kate Naylor and Joel Topham of Sagar’s Accountants advised Stonehouse.