Property services player Styles & Wood has priced its long considered Official List float: £71.9 million worth of shares placed at 150p have bagged £16 million net of new money for the company, valuing the entire concern at £96.7 million. Debut dealings on the Main Board begin this week.

Styles & Wood, chaired by the exotically named Gerard Quiligotti, provides a slew of services to major blue chip retailers and banks – the client list is peppered with names such as Barclays, Marks & Spencer, Argos and HSBC – and its complete design and project management service helps clients get better retail space quickly and cost effectively.

Its ‘Customer for Life’ ethos cements long-term ties to such customers, who are increasingly looking to outsource non-core work such as store project management, design and in-store improvements. Trends driving the market include the rising outsourcing of property services and ‘acceleration’ in the store refurbishment cycle, with retailers needing to refurb regularly to keep the punters coming in.

Styles & Wood, a fast-growing counter expected to float for some time now, sports an unbroken record of twelve years sales and profits growth. Revenues this year should hit £264 million. Encouragingly, more than 90 per cent of revenues over the last two years were generated from repeat work.

Flotation will assist with acquisitions, help pay down debt and gives a full exit for key backer Aberdeen Asset Managers Private Equity.