Fine & Country and The Guild of Property Professionals have been revealed as the next acquisition for The Property Franchise Group (TPFG).
A deal worth £15m was confirmed this morning after it was first reported on Sunday by Sky News.
It follows TPFG’s merger with Belvoir in March.
Gareth Samples, chief executive of TPFG, said: "The acquisition continues to deliver on our wider strategy of delivering breadth and depth to our network. It further enhances TPFG's recurring revenue streams, adds the additional dimension of licensing to its platform and one significant complementary service, printed marketing materials. I am really excited about working alongside Iain McKenzie and the team to continue the growth across the Group and providing additional benefits to our network."
Iain McKenzie, chief executive of the Guild and Fine & Country, said he as well as Fine & Country UK managing director Nicky Stevenson and the senior management team were "genuinely delighted and excited by the opportunities" created by the businesses coming together.
He added: "I am genuinely delighted and excited by the opportunities created by our two businesses coming together; placing The Guild and Fine & Country under an established and growing organisation, broadening TPFG's geographical footprint. We have a proven track record of delivering innovation and marketing services across our network, and, as a consequence of now being part of a larger group, our customers will benefit from existing supplier partnerships, allowing us to introduce significant additional benefits."
Samples told Estate Agent Today at the time of the Belvoir deal that money was available for more deals.
Samples said the Belvoir deal gives the overall brand more scope to purchase lettings portfolios and acknowledged that more acquisitions were on his mind but he was tight lipped on specific companies.
He added: “We did the Belvoir deal through an all-share merger so we haven’t spent any money.
“So we now have twice as much money for acquisitions.
“We are acquisitive and believe in putting the right businesses into the group that deliver shareholder value and opportunities.”
The Property Franchise Group (TPFG) has described the first five months...
Property marketing and communications software provider Nurtur is shifting its focus...
Winkworth has appointed two mergers and acquisition (M&A) specialists as non-executive...
Industry figure Clive Beattie is set to leave nurtur.group following the...
It’s all over bar the voting, so let’s cut to the...
.jpeg)
As we move into the second half of the year, the...
In a survey with over 150 agents representing 345 branches, an...
.jpg)
Tell us a little bit about National Home Move. We are a...
If you’re thinking about becoming an Estate Agency franchise or converting...
Estate agents and lettings agents have a legal obligation to protect...
You don’t have to simply accept things as they are when...
A political party is pledging that if elected it will make...
The Conveyancing Association (CA) - the leading trade body for the...
In a week when the election campaign descended into claim and...
A new senior figure in Purplebricks claims the agency has much...
Average UK house prices are 8% overvalued but this figure could...
At least 18m homes have an energy performance certificate (EPC) rating...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you, and what does it say on...
.jpg){kind=avatar}
Join the conversation
So, when we're members of The Guild consulted about this sale?
What will their share of the proceeds be?
When we joined The Guild it was sold to us as a means for the smaller, independent agent to compete with the corporates on a more level playing field.
Now we are to be lumped together with many of those corporates and franchises, a lot of whom I suspect many independents would not wish to be associated with. Businesses who act in their own interests and not those of the client!
In conclusion, to call Fine & Country an Estate Agency - as has been the case in some reports- is a complete deception. It is a marketing tool promoted by The Guild's partner to represent firms who did not have the whit or will to do their own national and international marketing.
When we joined The Guild it was made clear to them that we wanted no association whatsoever with the F & C representative in our area because of that company's poor reputation and aggressive and unprofessional tactics.
Now we are forced to be business partners and shall associated with those practices.
When will The Property Franchise Group (TPFG) sell to Strike or Connells ?
Please login to comment