Eastlake Group, a supplier of workplace interiors and property services, has merged with Work Inc Group, its biggest competitor, in an £8 million deal funded by Royal Bank of Scotland.

Eastlake Group, a supplier of workplace interiors and property services, has merged with Work Inc Group, its biggest competitor, in an £8 million deal funded by Royal Bank of Scotland.

The new company, branded Eastlake Work Group, will have a UK-wide presence and a combined turnover of over £75 million this year. It will employ 500 people across eight regional locations, including a headquarters in East Kilbride. There will be no redundancies.

Tenon Corporate Finance was lead advisor to Eastlake. It also provided financial due-diligence and tax advice. The team was led by John Blair, director, who said: “We look forward to working with the enlarged business in the future. The deal creates a market leading business in the UK which is well positioned for future growth, even in the current economic climate.”

The new company will provide additional services, including design and consultancy, and move management.