More details have emerged of the deal - reported on Letting Agent Today and Sky News on Sunday - for Property Franchise Group to buy The Guild of Property Professionals and Fine & Country.
It’s a £20m deal with an initial payment of £15m in cash and another £5m payable on the first anniversary of completion of the deal.
Early reports put the total deal value at £15m.
The Guild and Fine & Country provide services to a total of 1,036 outlets, of which 65 are international, broadening TPFG’s existing network of 910 outlets to 1,945.
In the year ended December 31 2023, the acquisition produced audited revenues of £13.2m; some 73% of the 2023 revenues were from recurring memberships and licences.
A statement to TPFG shareholders says: “The Acquisition fits within the Group’s strategy to acquire accretive businesses with complementary and recurring revenue streams which deliver network expansion and geographic growth, as clearly demonstrated with TPFGs merger with Belvoir Group plc in March 2024.”
The Property Franchise Group's other brands are Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks & Country Properties, and Belvoir.
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