Apiary Capital invests in flexible office provider Orega
Apiary Capital has backed the management buy-out of Orega, the pioneer of management agreements in the flexible workspace sector, from its founding shareholders.
Established in 2001, Orega is one of the UK’s leading providers of flexible workspace, offering stylish and modern spaces without the constraints of traditional leases. The company has expanded rapidly over the last three years, and now operates 25 centres across the UK, including eight in London. Orega operates under management agreements in partnership with landlords and corporate occupiers, offering high-end workspaces to over 10,000 customers covering c. 675,000 sq ft.
Apiary Capital’s investment will help accelerate growth, including expanding into new locations and services, both organically and through selective acquisitions.
“This strategic investment marks the beginning of a new chapter for us, taking a successful founder-built business onto greater opportunities,” said Alan Pepper, CEO of Orega. “We are excited to partner with Apiary Capital which will back the management team to accelerate growth while preserving our entrepreneurial culture, customer focus and the long-term relationships with landlords and business occupiers that have defined our business to date.”
Isabella Boman-Flavell, Investment Director at Apiary Capital, commented: “We are excited to be working with Alan and his team. The flexible office market is experiencing strong and sustained growth as businesses move away from rigid long-term leases to flexible options that are better suited to support hybrid teams and manage real estate risk. Based on its excellent reputation with both landlords and tenants, we believe Orega is well positioned to meet these evolving market needs. We look forward to supporting the management team through this next phase of growth.”