Coworking company investment analysis. Sherpa Capital and Busining

Integral service around a transaction
BY : Diego GutiérrezSeptember Wed, 2018

We take advantage of Sherpa Capital's investment in Busining to explain what coworking is and how it is revolutionising the corporate sector worldwide.

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Coworking: from trend to fashion

As a result of the present social paradigm, the coworking was born as an alternative to the traditional business model which has revolutionised work habits, achieving 50% of growth worldwide last year.

Coworking is defined as a more flexible working option, compared to the model that precedes it, in terms of working hours and workplace. With this new model, the need to have a physical office becomes secondary, avoiding the costs of the same, and in addition, the work environment is understood in a more flexible way as it can be adapted according to the specific requirements of each moment, making the space no longer a burden for business growth.

Large corporations, for example, have seen the advantages of these open workspaces. They highlight the increase in the productive and innovative capacity of their teams by taking them out of the corporate dynamic and introducing them into an interdisciplinary ecosystem made up of professionals with different profiles, giving great added value to the business.

SMEs are also joining coworking, as this model allows them to access the advantages of a large corporation at affordable prices, by being able to enjoy a wide network of offices, meeting rooms, common spaces for socialising, professional back-office equipment, technical and maintenance service, and, above all, the possibility of requesting any personalised service at any time.

For all these reasons, there is a consensus in the sector that coworking has a huge future and the figures highlight this trend. For example, in the United Kingdom, where this type of office space accounts for 4% of the total supply, major corporate operations have been carried out, such as the acquisition of The Office Group by Blackstone or Carlyle's investment in Uncommon. Meanwhile in Spain, coworking is in the process of consolidation - with special relevance in Madrid and Barcelona - thanks to the arrival of international players such as Spaces or Wework, which have motivated national real estate groups such as Colonial with Utopicus or Merlin Properties with Twisttt to join this trend.


Coworking operation in Spain: Sherpa Capital backs Busining

Sherpa Capital, firma de private equity líder en inversiones en empresas de tamaño medio que afrontan nuevos retos estratégicos, ha tomado una participación mayoritaria en Busining, uno de los operadores de referencia en espacios de coworking.

As a result of this expansion plan of more than 20 million euros, it is expected that Sherpa Capital will position Busining as the firm with the largest presence in the national area. As a result of this project, Busining will have 30 centres occupying a surface area of more than 70,000 m2 distributed throughout the country. To date, Busining has a strong presence in Madrid, with more than 12,000 m2 of flexible workspaces distributed in five centres.

In this growth plan, Sherpa Capital will have a majority stake in Busining, while its founder, Óscar García Toledo, will maintain a relevant participation in the management of the company. Gómez Acebo y Pombo has participated in the transaction advising the buyer and Haya Capital -which will make a minority investment- and Gold Abogados advised the seller.

Other coworking operations worldwide

The following table lists five companies, mostly American, that are committed to open workspaces as well as the total amount of investments received.

CompanyCountryDescription Total investment ($)Date
Flare HRAustraliaFlare is a software that manages onboarding, payroll and other HR functions.22.423.73428/08/2018
TerminalUnited StatesTerminal identifies emerging technology hubs around the world and we connect the best engineers with the most attractive companies.20.142.99222/05/2018
Uncommon Co.United StatesUncommon uses artificial intelligence to identify job requirements and match those jobs with qualified applicants.18.000.00015/02/2018
TalentSkyUnited StatesTalentSky standardises in-demand skills to increase inclusion and talent mobility.14.650.0002/08/2018
Welcome to the JungleFranceWelcome to the Jungle connects new businesses with talented communities.10.536.67215/05/2018

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