TOG (The Office Group) and Fora announce that they have agreed to merge, subject to regulatory approval. The combined group’s aim is to be the premier flexible workspace company in the UK and Europe, bringing together two highly complementary businesses with similar cultures and high quality, design-led workspaces.
The demand for flexible workspace is growing rapidly across all sectors as businesses seek greater employee productivity, comfort and wellbeing, as well as providing a range of designs and amenities to suit different working styles and needs. These buildings are also selected with convenience in mind, with well-connected locations that suit more hybrid working in a post pandemic world.
The combined group would comprise 72 premier locations totalling 3.1 million sq. ft. across London and in Cambridge, Oxford, Reading, Bristol, Leeds, Berlin, Frankfurt, and Hamburg with plans to expand into other European cities.
The co-founders of the two businesses will drive the new company forward. Olly Olsen will be Executive Chairman, Enrico Sanna will be Chief Executive Officer and Charlie Green will become President, responsible for all aspects of real estate across the combined business. Katrina Larkin will be Chief Environment, Social and Governance Officer. Together they bring almost 60 years of sector experience and knowledge to the organisation.
Current TOG and Fora tenants include bp, GSK, Ocado, AMC, Adobe, British Fashion Council, Tortoise Media, among many others.
Olly Olsen, Co-founder and Co-CEO of TOG commented:
“The strong strategic and cultural fit between our two businesses and the supportive market dynamics, as more businesses embrace flexible working, make this merger an exciting proposition.
“We have seen a clear and growing need from corporates for better quality environments, with great amenities, beautiful design and that are easily accessible. The combination of our businesses would ensure that we are best placed to meet this growth opportunity in both the UK and Europe, offering existing and potential members even greater choice.”
Enrico Sanna, Co-Founder and CEO at Fora, commented:
“Businesses are increasingly recognising that the workplace is no longer a commodity, but rather a space that can be used to actively drive improved productivity, collaboration and the wellbeing of their teams. The combined portfolio of TOG and Fora will meet this need and evolving expectations, offering high quality and flexible locations that are design-led, with a range of services and amenities that are conducive to enhanced employee and business performance.”
The financial terms of the proposed merger have not been disclosed.