Sunday, 19th September 2021

Keysource targets new growth opportunities

Critical environment specialist’s parent company rebrands to capitalise on demand for whole life support services to the built environment.

Keysource is targeting new growth opportunities as part of a newly launched group of complementary real estate support services businesses.


The critical environment specialist’s parent company has rebranded to become ‘Extentia Group’ and is on track to achieve more than a 20 per cent increase in sales for its first full year of trading.


The Group was created by the acquisition of Styles&Wood Group Plc – the integrated property services business – and furniture fixtures and equipment (FF&E) specialist Southerns Ltd, by Central Square Holdings Limited (CSHL), which completed in March 2018.


Newly rebranded as Extentia Group, it is made up of 11 specialist businesses, including Keysource, which offer services across the full lifecycle of real estate assets – from design, project management and delivery, to optimisation, FF&E solutions and facilities management. The Group’s offer is underpinned by a suite of proprietary ‘proptech’ software.


Extentia Group is forecasting revenues of circa £230m for the year ending June 2019 (from £185m, June 2018) together with a significant increase in underlying profit.  


The strong growth follows a range of new contract wins, including Keysource securing a two-year contract extension to provide specialist data, technology and IT estate management services to the Metropolitan Police Service (the Met) in London.


Stephen Whatling, MD at Keysource, said: “Becoming part of Styles&Wood in 2016 opened Keysource up to a range of exciting new opportunities with blue chip clients and Extentia Group is the next chapter in that story.


“Working alongside other businesses within the Group we see strong opportunities to provide an integrated approach, which is highly relevant to clients at a time when data centre consolidation is having a huge impact on corporate real estate. Our combined proposition will allow us to bring new thinking to the table to add value to our existing client relationships and forge new ones.”


Extentia Group is backed by Yorkshire-based entrepreneur Steve Parkin, the founder of Clipper Logistics, and is led by chief executive Tony Lenehan, who was responsible for driving impressive growth at Styles&Wood through a major diversification strategy.


Tony Lenehan, chief executive of Extentia Group, said: “There is a fundamental link between productivity and the design and operation of real estate assets. Our vision for Extentia Group is simple: we will help our clients to create and optimise environments that drive productivity and support stronger performance.


“We’re proud to launch our new brand, which has a unique and highly relevant proposition for the built environment. Our 11 businesses have distinct identities and established brand equity with blue chip clients. Together they represent an end-to-end capability which is unique in the market.


“This collaboration is already bearing fruit and we will continue to drive integration across the business. Following a productive and exciting period spent realising the rationale for bringing these businesses together, my management team and our backers are raring to begin this new chapter of growth and investment in the business.”


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