Business

PanJam acquires 25% stake in expanding Williams Offices

Wednesday, October 10, 2018

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PanJam Investment Ltd has acquired a 25 per cent stake in Williams Offices (Caribbean) Ltd, the Caribbean arm of global workspace provider Regus.

Regus is part of the IWG group of Switzerland and provides flexible office rental rooms in over 1,500 business centres globally for more than two decades. The company, which touts itself as the global leader of flexible working spaces, have partnered with Williams Offices (Caribbean) Ltd, a company set up by Ralph “Bizzy” Williams, chairman of Williams Industries Inc, and Mark Linehan, former CEO of Digicel (Barbados) Limited to bring the Regus franchise to the region.

Williams Offices first established the Regus Business Centre in June 2016 at One Welches, Barbados, with a mandate to license and operate the Regus brand and business model in a number of Caribbean countries.

The company then went on to open a second centre in March 2017 at Invader's Bay in Trinidad & Tobago and has a third centre earmarked to open later this month in the PanJam Building in New Kingston, Jamaica.

“We are very excited about the prospect of bringing Regus to Jamaica. We are also delighted that PanJam has invested at the regional level. This partnership will allow us to grow faster throughout the Caribbean,” Williams.

Williams Offices business model involves hourly, daily and monthly rentals for offices, desks and meeting rooms for individuals and companies. Locally the company plans on expanding across the island, but plans are also underway to expand its footprint to Guyana and St Lucia.

Outfitted with the latest technology, Regus boasts that it will meet the needs of both small and large businesses throughout the region after building a network of office, co-working and meeting spaces in almost 900 cities across 120 countries.

Its network of flexible workspace solutions enables businesses to operate anywhere without the need for set-up costs or capital investment.

“Our investment represents our confidence in the region's future, and we believe it will contribute to our pursuit of creating long-term shareholder value,” chief operating officer of PanJam, Paul Hanworth, said.

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