Stonehouse Projects is expanding its operations in the property development market by forming a joint venture with international investment group LSG Holdings.
Employing 25 people, the West Yorkshire firm is a specialist fit-out contractors and manufacturers of bespoke furniture.
LSG Holdings is a UK-based single family office active in direct investments across real estate, private equity and venture capital both in the UK and internationally.
It has a history of backing successful SMEs and management teams in the Yorkshire region with previous investments in Lifterz (now exited) and The Progeny Group (current).
Following the completion of the deal, the Stonehouse team will be working alongside LSG’s MD Patrick Leoni Sceti to further strengthen the existing business and develop the group’s property investment and development arm. The Stonehouse brand will be retained going forward.
“The timely coming together of LSG Holdings and their unrivalled financial know-how together with their experience in backing successful SME’s combined with the knowledge and expertise of the Stonehouse team has given us a winning formula,” said Steve Waugh, Managing Director of Stonehouse Projects.
“By pulling on multiple years of well-honed skills and proficiencies across the group we can offer something quite unique.”
A team led by Alistair Scott-Somers of Progeny Law and Tax and the Leeds office of Murray Harcourt led by Mark Hunter advised LSG on the investment. Susan Clark of LCF Law, Kate Naylor and Joel Topham of Sagar’s Accountants advised Stonehouse.