A flourishing new business has started in Oxfordshire after two old school friends met up for the first time in more than 30 years.

David Lee and Stephen Webb had lost touch after going their separate ways in 1969 at the age of 13 -- when Mr Webb's family moved to Australia.

But they spotted each other on the Friends Reunited website and, after exchanging e-mails, agreed to meet up.

Once they had talked, they realised their common interests extended to running a business.

Mr Webb said: "I was in Australia and David was in Spain. But I was coming back to England for a short time so we agreed to meet up. "We found we shared an entrepeneurial spirit and we had a similar background. One thing led to another and we set up a company together."

Called Social Lite, the firm will launch a series of events for unattached people including weekends, fancy dress evenings and talent shows.

The first weekend event, at Oxford's Holiday Inn from May 10-12, will include a black tie dinner and a trip to Blenheim Palace.

The two have also set up events in a further 20 hotels across the south of England, with the aim of setting up a club for unattached people.

Mr Webb said: "We realised there are more and more single people in the 35 plus age group looking for something to do. "We have set up a website at www.sociallite.co.ukwhere people can contact us and look at the events coming up in their area."

Mr Webb and Mr Lee first met as children at The Grange School in Aylesbury before Mr Webb relocated to Australia.

He then ran an insurance business until he decided to travel.

Mr Lee came to Oxford in the 1980s where he built up the Bogarts video store chain before it was sold to the Ritz/ Blockbuster chain. Recently he has been running a property management company in Alicante, Spain.

He said: "It has been terrific meeting again. Once we had swapped stories, we found ourselves coming up with ideas to start a business."