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Modus Group, one of the UK’s fastest growing and most innovative fit-out and facilities management businesses has announced that it has been acquired by its management team in a £16m deal. The management buy-out was led by Toby Benzecry, one of the firm’s founders and its new Chief Executive. As part of the new structure and with the agreement of the other members of the senior management team, Toby has announced that a significant percentage of current profits will be reinvested into the company as part of a long term development plan for the business.

Commenting on the new business structure, Toby Benzecry said: ‘We’re delighted to have concluded the deal. It marks the latest step in the development of the business and also reflects the changing market in which we work. Our customers are taking an increasingly sophisticated approach to the design and management of their workplaces. They have a clear understanding of how their buildings affect their organisation and they are also aware of how changing technology, management styles and the new demands of individuals are helping them to get the most out of their property. The change in company structure will allow us to stay ahead of these trends and also help us to introduce new and better services and develop Modus into new markets.’

The vendors and the MBO team were advised by BDO Stoy Hayward with funding provided by Royal Bank of Scotland. Halliwells provided legal advice to the management and Eversheds provided legal advice to the vendors.

Toby Benzecry is available for interview and comment. For further information and images, please contact Front Marketing Communications on 0870 850 9119 or info@frontmarketing.co.uk

About Modus

• Modus Group is an award winning multi-disciplinary design and build, interior design and facilities management specialist. The main company is split into two divisions, Modus Interiors and Modus FM

• Modus Interiors is structured into three operating divisions;

- Modus Projects offer construction services in more traditional tendered contracts

- Modus Unitech offering design and construction of technical environments such as laboratories and data centres

- Modus Workspace which offers design and build (D&B) solutions for office occupiers

• Modus FM provides a broad range of services, including reactive, proactive and planned works. It provides clients with a tailored facilities management package for all their building services requirements.

• The business was started in 1992 by Toby Benzecry and Ashley Davies and now employs around 200 people and turns over £95 million per annum. Modus is the only company to have been featured in the Deloitte & Touche Indy 100 list of fastest growing UK companies 5 years in a row. The founders were finalists in the Ernst & Young Entrepreneur of the Year Awards 2002 and the company was included in the Sunday Times Profit Track 100 in 2003.

• The new management team consists of:

- Toby Benzecry – Chief Executive
- Matthew Short – Design Director
- Roger Potter – Finance Director
- Gary Payne – Engineering Director
- Craig Weatherhead – Operations Director
- Paul Barden – Commercial Director
- Hilary Kavanagh – Support Services Director
- Joe Luxford – Divisional Director
- Justin Crouch – Divisional Director
- Nigel Gray – Divisional Director
- Tim White – Divisional Director

• Modus clients include Fujitsu, Regus, Imperial College, Institute of Cancer Research, Johnson & Johnson, UCB Celltech, Shurgard. The company is particularly strong in forming long term relationships with clients – all the above have framework agreements with Modus.

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