Keystone Law, co-led by corporate finance and M&A specialists Bruno Fatier and Nadim Zaman, has advised global French corporate the Armonia group on its acquisition of The Private Group Limited, a specialist provider of concierge and reception management services, to strengthen its global brand with an annual turnover of over €250 million.
The target brands of Office Concierge and Privée are both key players in the reception and concierge markets in London, and their teams offer a premium service that complements the Armonia group’s know-how and global brand values. Office Concierge operates in more than 200 offices and employs over 550 people, while Privée is acknowledged as one of London’s leading providers of corporate concierge and lifestyle services.
Keystone Law won the mandate after pitching against a number of top-tier City firms and provided full-service M&A legal advice. The broader team comprised key specialists Tom Daltry (Tax), Peter Garry (Partnerships), Denham Bell (Employment), JP Irvine (Commercial), John McMahon (Commercial), Suzy Schmitz (Commercial), Jessica Morris (Commercial), Albert Mennen (Corporate) and Rahul Rajput (Corporate). Cavendish was the appointed corporate finance adviser on the sale, with boutique City law firm Joelson LLP acting for the selling shareholders. In addition to Keystone, the buy-side team comprised FiduFrance (French law firm) and investment bank La Baume Finance.
For the Armonia group, this transaction provides a platform for the company to pursue its strategy of international expansion while developing further revenue streams. The Armonia group’s Managing Director, Guillaume Amar, commented:
“Thanks to Office Concierge and Privée, we now have a structure which shares our quality standards that many of our clients who operate in the UK can now access.”
By joining the Armonia group, Office Concierge and Privée will derive the immediate benefit and exposure of being part of a large international group, with Simon Cooney, Office Concierge Group Director, commenting:
“The synergies available as a result of the integration with Armonia will, we believe, be immediate. We are very excited about the new opportunities that now present themselves, not only outside of London but also across the potential new revenue streams that we can look to develop with Armonia’s undoubted expertise.”