Interserve plc : Interserve acquires specialist interiors fit-out business

23 May 2013

Interserve, the international support services and construction group, is pleased to announce that it has acquired Paragon Management UK Ltd ("Paragon") a specialist interiors and property refurbishment business based in the City of London. Paragon will become a wholly-owned part of Interserve's Construction division.

• Acquisition of a well-known and respected brand in the London refurbishment and fit-out market
• Well-positioned for opportunities and upturn in the London re-fit market

The acquisition expands Interserve's interior fit-out proposition in London and provides additional expertise in delivering bespoke solutions across a range of commercial settings. It also provides Interserve with access to the high-end re-fit market in the capital, which has maintained its value during the downturn and which offers further opportunities as economic conditions improve.

Commenting on the transaction, Ian Renhard, Managing Director - Construction said: "This acquisition enhances our existing fit-out and interior services and provides us with additional revenue, most specifically, in the London and south-east fit-out market. All indicators show that the London refurbishment market performed well throughout the last five years and this acquisition puts us in a good position to take advantage of expected growth and provides the opportunity to develop services to new and existing clients across the Interserve Group."

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About Interserve

Interserve's vision is to redefine the future for people and places. It is one of the world's foremost support services and construction companies, operating in the public and private sectors in the UK and internationally, offering advice, design, construction, equipment, facilities management and front-line services. Interserve is based in the UK and is listed in the FTSE 250 index. The Group employs some 50,000 people worldwide and in 2012 generated gross revenue of £2.3 billion.