2017

Year

Business Services

Sector

Property Search Group

Client

Property Information Exchange

Acquired By

Property Search Group / Property Information Exchange

Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A firm, has advised Security Research Group plc (“SRG”) as the shareholders of Property Search Group (“PSG”), one of the UK’s leading property search provider, on its merger with Property Information Exchange (“PIE”), a leading online platform providing power legal solutions to the dynamic property marketplace. The merger creates the number one property search service and search data provider in the UK.

Cavendish Corporate Finance, which provided extensive advice during the marketing and selection of suitable partners for PSG, has a wealth of experience in financial services and property. Recent high profile transactions include advising on the sale of bfinance to Baird Capital, Dexion Capital Holdings to Fidante Partners, the funds management division of Australian investment company Challenger Limited, the sale of Resolution Property, the leading property investment company, to Chinese conglomerate Fosun International, and the acquisition of West One Loan Limited by Enterprise Finance.

John Farrugia, partner at Cavendish Corporate Finance, which advised SRG on the transaction commented:

“We are delighted to have advised the shareholders of PSG and to have found in PIE the right partner to enable the combined resources of the two companies to continue to expand in this competitive marketplace.  This merger will see PIE and PSG unlock significant synergies from their complementary geographical reach, and meet the growing demand for PIE’s and PSG’s unique offering.”

Jon Edirmanasinghe, partner at Cavendish Corporate Finance, also said:

“The residential conveyancing search market in the UK is estimated to be worth approximately £200 million per annum at current transaction levels.  With the UK government recently committing to stimulating high volume housebuilding for private ownership with mortgage lending and low interest rates forecasted to remain over the next number of years, is set to benefit from these positive factors and the corresponding continued growth in the number of housing transactions. The number of residential transactions per year is conservatively forecasted to increase to 1.1 million by 2019.  PSG’s unique offering, which combines a smart technology platform with direct and indirect channel partner relationships with thousands of Legal Practices, places the Group in a favourable position relative to its competitors. It’s extensive network coverage allows the Group to create and develop locally based relationships with Legal Practices throughout the country; a significant advantage over other incumbents in the market.”

Key Contacts

John Farrugia

Partner, Technology

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Jon Edirmanasinghe

Partner

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