SHAREHOLDING DEAL STRENGTHENS TIES FOR SIMONS GROUP WITH GROUPE IDEC

The Paris-based global real estate operator, Groupe IDEC, has bought a minority stake in Simons Group Ltd, it was announced today.

The agreement reinforces the trading relationship between the two businesses and comes several months after they signed a Memorandum of Understanding, based on a “shared vision” of being able to reach customers in the UK and internationally with their combined strengths and capabilities.

Signing the deal in Paris with Simons’ Chairman Paul Hodgkinson and Deputy Chairman, Philip Hodgkinson, Groupe IDEC said the move underlined its commitment to international expansion, with the partnership enabling both Groups to capitalize on their respective strengths and expertise to target new business opportunities.

Simons Group Chairman Paul Hodgkinson said the move was a reflection of the growing and important relationship with Groupe IDEC.

“We are delighted to welcome this dynamic European business as a Simons shareholder,” he said. “We are looking forward to increasing our opportunities and workload through working together on projects and expanding our reach into the international markets.”

Established in 2000, Groupe IDEC builds three / five million square feet of real estate each year for international corporate and commercial customers, two thirds of whom are in the logistics sector.

Tom Robinson, Simons’ Chief Executive, said: “European and international coverage as well as combined resources, shared best practice and solutions can only be of benefit to customers and strengthen our commercial proposition. It’s an exciting step for both businesses.”