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.”
“The Cavendish team of Jon, Chris, Chirag and Soben steered the process from start to finish and were instrumental in bringing this transaction to a successful conclusion with the right partner in the form of Naviga. The sale of Miles 33 to Naviga marked a successful exit for the financial investors and provides management with a larger platform to grow the business.”
“Cavendish has a great brand and great people, and from the moment the appointment was made, we knew we were in safe hands. The Cavendish team of Andrew, Steve and Paris delivered the right advice at all times. The strength of their international reach brought parties to the table including ZEDRA who we would never have found ourselves and who saw the potential in our business and our team. Cavendish controlled the process and the negotiations throughout. They also understood how we felt as founders to be selling a business we had built over 12 years. Many thanks once again to the Cavendish team – I would highly recommend them.”
“This deal represents a fantastic opportunity for our investors to support an established and well managed business with an excellent reputation in the facilities management sector. We are delighted with the debt financing package arranged by finnCap, which was a critical element to the completion of the transaction. We were extremely pleased with how the process was managed by the finnCap Debt Advisory Team, which provided us with optionality to select the most appropriate banking partner for CMS.”
“We are delighted to have secured this transformational funding. The open market does not serve everyone and the funding enables us to provide a choice to many more sellers. We would also like to thank Jon, Ben, Steph for their efforts – they provided invaluable advice and hands-on support throughout the process, providing us with a trusted advisor that saw the transaction through to completion.”
We are delighted with this transaction as Celtech is a class-leading developer of cloud-based retail and wholesale management solutions. The acquisition allows the Group to offer the very latest in RMS technologies to existing and new customers and extends the Group’s product offering into wholesaling and new geographies such as Ireland. It is expected to be earnings enhancing in its first full year of ownership.
In Thomson Reuters, we found a strategic buyer that shares our commitment to the rule of law. We have a proven track record of enabling the courts’ digital transformation of the UK. We are optimistic that with Thomson Reuters global footprint we will be able to help courts around the world to continue to operate effectively and efficiently into the future.
We’d also like to place on record a huge thank you to Jon, Sam and the Cavendish team. From identifying Pelican Capital through to providing advice and support throughout the due diligence process, Cavendish deserve a great deal of credit for delivering the fundraise in an exceptionally challenging environment.
I would thoroughly recommend Andrew and Rebecca and the Cavendish team to anyone looking to maximise the proceeds from a disposal or asset sale. The Cavendish team are both consummate professionals, focused on delivery and pragmatic and flexible in their approach to helping their clients achieve their objectives. I would not hesitate to recommend them and would hope to work with them on future projects. They provide great value.
This marks a significant opportunity for our partners, customers and people as we become part of the global Kyocera family and continue the journey we started back in 1988. When looking for an advisor we wanted someone with an international network and experience of working with buyers both here and overseas. Cavendish had the expertise to facilitate the transaction and the support they provided was invaluable. The Cavendish team, did an excellent job managing the process and ensuring the smooth closing of the transaction in a timely manner. They were always professional and aligned with our shareholder goals – many thanks to the whole team.
We made absolutely the right choice in appointing Cavendish. Michael Jewell and the team were instrumental in getting us the deal we wanted. I would have no hesitation in recommending them to anyone thinking about a sales process.
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