Steinfeld Law advised Lloyd Dorman and the Dorfman family and trust on the sale of their majority interests in The Office Group (TOG) to Blackstone for an enterprise value of approximately £500m. TOG is a leading provider of design-led and flexible office space to a wide variety of clients spanning established businesses, start-ups and entrepreneurs.
The existing management team will remain in place and co-founders Charlie Green and Olly Olsen will continue as co-CEOs and retain significant shareholdings.
Lloyd Dorfman, who acquired a majority interest in TOG in 2010 and has been chairman of the company since then, commented:
“In my seven years with the business, we have significantly expanded the portfolio and client base. TOG is a dynamic and innovative business, with buildings in optimal locations operating in a market whose time has come… Charlie and Olly are the best in the business and have been an absolute pleasure to work with.”
The Dorfman family will retain a minority interest in TOG.
Michael Steinfeld headed the Steinfeld Law team whilst TOG was advised by Linklaters. Blackstone was advised by Clifford Chance. The management team were advised by Berwin Leighton Paisner.