Clearwater Corporate Finance has advised RMG, the property-related services company on its sale to Places for People, one of the UK’s largest property management companies.
Hertfordshire-based RMG provides property-related services, including estate management, grounds maintenance, and rent and service charge collection, to a number of housebuilders, landlords, and local authorities with 60,000 units currently under management.
RMG also provides housing options advice, private sector leasing and facilities management services to local authorities across London and the South East. Places for People currently has 81,000 homes under management and assets in excess of £3bn. It has offices across the UK, including in London, York, Preston, Edinburgh and Norwich.
Clearwater’s specialist Real Estate team advised RMG on the sale. The team comprised Partner Marcus Archer and Assistant Director Andy Strickland.
Marcus Archer said: “We are delighted to have helped RMG secure this deal. It has successfully established itself as one of the key players in the residential property management sector and is a market-leading business with a strong, established national brand.
The sale will provide RMG with the opportunity to leverage the market position and operating platform the management team has established to deliver its growth plan”.
Managing Director Hugh McGeever said:“Clearwater’s in depth understanding of the sector ensured that from the outset the team were able to get to grips with the key drivers of our business. The team successfully marketed RMG both domestically and internationally, recognising that to deliver strategic value to the stakeholders a buyer would need to see equal opportunity in both our public and private sector divisions. Marcus and his team successfully dealt with a number of complex transactional issues, providing clear and insightful advice to each of the stakeholder groups at every stage of the process. The team’s expertise and commitment to delivery allowed us to achieve a successful exit for each of the parties and found a new parent in PFP, who will allow management to continue to grow the business.”