Background
• Lane Fox is a privately-owned UK estate agency business, formed in 1967, with 26 offices across its London and Rural network.
• Following an initial approach from Strutt & Parker, the independent UK property firm, the Company asked Close Brothers Corporate Finance to advise it on a potential sale
Process & outcome
• Close Brothers Corporate Finance negotiated the terms of the sale, advised on tactics, assisted management in securing their roles in the enlarged group and ensured that all other advisers performed in accordance with a tight timetable
• The transaction was completed on schedule, with a successful outcome realised for Lane Fox shareholders
• The sale was an important transaction in the sector, combining two successful estate agency businesses with established brands and networks to create a combined entity that will be a significant player in the UK estate agency market
Testimonial
Peter Lowndes, Chairman of Lane Fox, commented:
“This has been quite a trip for us, being new to such transactions. I know I speak for the entire management team when I say we could not have wished for better financial advisers. We felt really well supported in all aspects throughout and we are delighted with the choice of Close Brothers Corporate Finance as financial adviser.”
For more information regarding this transaction, please contact Peter Alcaraz or Guy Ballantine on +44 (0)20 7655 3100.