Qdime Group | Cortland
finnCap Cavendish, part of financial advisory firm, finnCap Group plc, is pleased to announce it has advised on the sale of Qdime Group, the UK market-leading residential property management service business, to Cortland.
Cortland is a US multifamily real estate, investment and management firm. It owns and operates nearly 70,000 rental units in the US, and has exported its proven resident-centric rental model to its UK build to rent, leasehold and other private rented sector operations. With this acquisition, Cortland will be in the top ten largest block management providers in the UK.
The acquisition will see Qdime founders, Nigel Burnand and Robert Burnand, stay on to join Cortland as Managing Director Block Operations and Director Block Operations, respectively. All staff are expected to be retained as part of the transition.
Peter Gray, Partner of finnCap Cavendish, led on the deal.
“This represents an excellent deal for both parties. Cortland brings significant expertise in the rental property management market which has the capacity to significantly enhance Qdime’s growth. The Qdime shareholders have achieved a good financial outcome and are confident that the business is now in excellent hands to achieve its significant growth potential. Following on from the sale of Pimlico Plumbers to KKR backed Neighborly, the deal is yet another finnCap Cavendish transaction where we have found a US acquirer for our clients, emphasizing the strength of our international reach.”
“Cortland shares our core values and our customers focus, and their additional resources will help us accelerate our growth in the UK market.”
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