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 finnCap Cavendish team were exceptional from start to finish on our deal, helping us to prepare meticulously for the process, identifying a group of highly strategic buyers and negotiating a fantastic deal for our Shareholders. We would thoroughly recommend them to any owners considering an exit.”
“Thank you to John and your fantastic team at FinnCap Cavendish for your unwavering support, dedication, work ethic and belief in Xexec’s mission. John, Mike and Sam were instrumental in bringing the deal to a successful completion and provided invaluable guidance throughout the process.
We look forward to our new partnership with the Castik and Abry teams who are the ideal partners as we continue to expand our business and pursue the next phase of our strategy.”
‘The finnCapCavendish team were great to work with, they took time to listen, properly understand our objectives and tailored the process to get a fantastic result for us. They really understood the value drivers in the ICT sector and had access to all the key buyers for our business, they were able to efficiently manage the sale process maintaining the great relationship we’d built we Adept as our preferred buyer.’
“Thank you to Jon, Steph and Chirag for their tireless efforts in recent months. Jon offered invaluable leadership and strategic advice, while Chirag and Steph provided diligent and supportive guidance throughout. They also behaved throughout as one would expect friends and confidants to act, which is very helpful in a confidential situation. We were delighted with the result and very, very pleased to have had the three of them as our team.”
“Cavendish understood our ambitions from day one and went to great lengths to understand the minutiae of the business in order to effectively position the investment proposition as it evolved throughout the transaction. Cavendish were not just an advisor but a true partner to the Systal team throughout the process all the way through to completion.”
“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.”
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.
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