Office Space News
Regus Acquires Three BFI Business Center in France
Published February 22nd, 2010 by Jennifer LeClaire
For all the serviced office grand openings Regus held in 2009 – enough to officially surpass the 1,000 location mark – 2010 may see the executive suites industry giant take a different tack: acquisitions.
Just days ago, Regus acquired three Business Facility International (BFI) business center locations in the France’s Côte d’Azur. With the acquisitions under its belt, Regus now boasts 50 serviced office centers in France.
Specifically, Regus newest office space additions are located in Sophia Antipolis, Nice Arenas Business District. Regus also has existing serviced office locations in Les Espaces de Sophia, the Font de l’Orme district and the Monaco Principality.
What do we know about BFI? Founded in 1999, BFI is a member of the Alliance Business Centers Network, and had 15 business centers in France before Regus gobbled up three. The company targets contractors, foreign affiliates, consultants and project teams. The business center company works to provide all the administrative and business services companies need to make officing convenient and affordable.
It is unclear why BFI sold the three business center locations to Regus. It could be that those particular locations were struggling and Regus thinks it can do a better job. It could be that Regus made BFI an offer it couldn’t refuse. Or it could be that BFI has its sights set on new market and needed the capital to expand. Time may or may not tell.
Do you think Regus will make additional acquisitions on the road to 1,100 serviced office facilities worldwide?
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Bill Brookshire February 22nd, 2010 at 11:48 am
Good question. I don’t know if Regus will acquire more serviced office space this year by means of taking over existing facilities. Regus is certainly no stranger to acquisitions, though, so it wouldn’t surprise me. I can’t figure out the motive for expanding in France, either. Must be some logical reason this deal was done.
Elizabeth Sanchez February 22nd, 2010 at 12:12 pm
I am sure Regus will do more M&A this year. Some serviced office operators are likely struggling in a competitive market. Regus seems to have the available capital to scoop up serviced office space. It would be interesting to know what their acquisition strategy is. France must have been more attractive to Regus than to BFI in this market.
Jonathan Price February 23rd, 2010 at 2:29 pm
I think you are mistaken, Jennifer. Regus has taken over all the BFI centres, not just the three on the Cote d’Azur.