Belvoir Group PLC 100th Assisted Acquisition
October 07 2020 - 2:00AM
RNS Non-Regulatory
TIDMBLV
Belvoir Group PLC
07 October 2020
7 October 2020
BELVOIR GROUP PLC
(the 'Group' or 'Belvoir')
100(th) Assisted Acquisition
Belvoir Group PLC (AIM: BLV), the UK's largest property
franchise, is pleased to announce that the Group has successfully
completed its 100(th) transaction under its Assisted Acquisitions
programme, a core part of Belvoir's growth strategy.
Since establishing the Assisted Acquisitions programme at the
end of 2013, the Belvoir Group has now supported 100 acquisitions
by its franchisees, with a total deal value of GBP25 million,
boosting franchisee network revenue by GBP24 million. Franchisees
across all of the Group's networks have embraced the strategy,
seeing the acquisition of a local business as a means of
significant growth with many of them doubling the size of their
business overnight.
The Group operates a team of three staff providing research to
identify acquisition targets, commercial support to secure the best
deal and assistance in obtaining the necessary funding. The Group
will also lend the franchisee up to 30% of the consideration, if
required, and currently has a franchisee loan book totalling GBP2.8
million.
The 100(th) transaction was undertaken by the new Northwood
Wolverhampton franchisee, Mahomed Imtayas, who has acquired
Millenium Properties (Letting Agents) Limited which had a portfolio
of 250 managed properties. Mahomed joined the Northwood network in
September having previously operated and sold a successful
franchise business.
Dorian Gonsalves, CEO of Belvoir, commented;
"The Assisted Acquisitions programme, now in its seventh year,
has gone from strength to strength. Since 2014 we have provided
both commercial and financial support in relation to 100 deals with
some of our ambitious franchisees having undertaken more than one
acquisition to grow their business. The strategy is a win-win for
both the franchisee and the franchisor, having been a significant
contributing factor in the 80% increase in average revenue of our
franchisees up from GBP150,000 in 2013 to GBP270,000 in 2019.
I am delighted to welcome Mahomed to the Belvoir Group and wish
him every success in his new business venture. Having been speaking
to Mahomed for a couple of years, we were pleased to be able to
find a suitable acquisition to help him get started as a new
Northwood franchisee. I am sure that his previous experience of
franchising will be invaluable to him.
Our franchisees are professionally and financially equipped to
take advantage of a consolidating sector and Belvoir is committed
to supporting our franchisees' entrepreneurial growth ambitions, to
the benefit of our franchisees, the Group and our shareholders
alike."
For further details:
Belvoir Group PLC 01476 584900
Dorian Gonsalves, Chief Executive investorrelations@belvoirgroup.com
Officer
Louise George, Chief Financial Officer
www.belvoirgroup.com
finnCap
Julian Blunt & Teddy Whiley (Corporate Finance)
Tim Redfern (ECM)
www.finncap.com +44 (0) 20 7220 0500
Buchanan +44 (0) 20 7466 5000
Charles Ryland, Kim Looringh-van Beeck
& Tilly Abraham
Notes for editors:
About Belvoir Group PLC
Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir
operates a nationwide property franchise group with 396 offices
across five brands specialising in residential lettings, property
management, residential sales and property-related financial
services. With its Central Office in Grantham, Lincolnshire, the
Group manages over 68,550 properties and reported record revenues
of GBP19.3m in 2019 making Belvoir the largest property franchise
group in the UK.
For further information, please visit: www.belvoirgroup.com
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