Trethowans acts for The Property Franchise Group in Fine & Country acquisition
Trethowans, a leading law firm in the central south of England, have successfully supported The Property Franchise Group plc (TPFG) in its £20m share acquisition of GPEA Limited which operates the Fine & Country and Guild of Property Professionals brands.
The transaction adds to existing brands operated by the AIM-listed company, which is the UK’s largest multi-brand lettings and estate agency franchising group. Their portfolio includes Hunters, Belvoir and Martin & Co and with the addition of Fine & Country and Guild of Property Professionals, will create a network of roughly 1,800 lettings and estate agents in the UK and overseas.
The transaction, was led by senior associate in the Corporate team Jonathan Sherman, and is one of many deals that Trethowans has assisted Bournemouth based TPFG with over the last few years.
To support the transaction and future growth, TPFG secured a new debt facility with Barclays Bank and was advised by Steve Cole, partner and head of the Banking and Finance team at Trethowans. This complex deal involved multiple teams within the firm, with Laura Trapnell, a partner in the IP and Technology team, providing commercial advice.
Jonathan Sherman said: “We are delighted to have supported TPFG in this latest acquisition. This transaction was a collaborative effort, with multiple teams across Trethowans working closely together in helping our client achieve their objective of further growth in the estate agency sector. This acquisition marks a key milestone in reaching that goal”.
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.”