Paragon will become a wholly-owned part of Interserve's Construction division.
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.
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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."
(CD)
