Skanska to invest in Business Link
Business Link and Skanska will co-create in Central-Eastern Europe (CEE) an innovative ecosystem for start-up companies, small and medium enterprises, and companies from the business services sector. The developer has decided to invest in Business Link – the largest network of co-working space and private offices in Poland. With Business Link’s planned international expansion, the company will become the biggest network of its kind in Europe and second in the world. As a result, Skanska will be in a position to create the most comprehensive commercial office proposition for a wide range of businesses on the CEE market.
Over the next few years, Business Link will create approximately 12 new locations in CEE, totalling around 45,000-50,000 sqm. The investment of up to €10 million will be spread over time and will depend on fulfilling previously mutually agreed business goals. This is an investment in a stable and reliable company which thanks to the partnership with Skanska has the chance to become a giant on the international market.
“This is a strategic move from Skanska in terms of building our business proposition in the CEE region,” said Claes Larsson, Executive Vice President at Skanska Group, responsible for commercial development business globally. “As the biggest building and developer company in this part of Europe, we take into account all the dynamic changes in the real estate market and do our best to promptly respond to the latest trends. Business Link’s offer is the perfect answer to a growing need for flexible space in corporate portfolios that we observe in our key client’s real estate strategies, especially from the business services sector.”
Skanska and Business Link’s cooperation is an example of a sustainable approach to business. The developer, as an equal partner, is not taking over the start-up company but investing in its development.
“This is the first significant involvement of an international corporation in creating such a start-up environment in Europe,” explained Dariusz Żuk, co-founder and CEO at Business Link. “Thanks to this investment, Business Link will strengthen its leading position in Poland and will become the biggest player on the market of modern co-working office space in Europe. Moreover, as a result of the expansion planned in Poland, the Czech Republic, Romania and Hungary, we have the chance to become number two on the global market. This provides us with even greater possibilities to contribute to the development of entrepreneurship in Poland and the CEE region.”
Skanska ultimately will acquire up to 50 percent of Business Link’s shares and will become the majority shareholder of the company. The venture will be managed by a newly established company. The first Business Link offices in Skanska’s buildings will be open later this year. In the transaction, Business Link was advised by RSQ Associates, while PWC and Linklaters acted jointly as advisors for Skanska. The transaction will be finalized upon obtaining permission from the Polish Office of Competition and Consumer Protection (Urząd Ochrony Konkurencji i Konsumentów – UOKiK).