There is speculation that Romans, the estate agency group based in Berkshire, is about to sell to a private equity group for around £50m.
Sky News says it understands that Dale Norton, who established the Berkshire-based Romans Group in 1987, has decided to cash in by offloading the company to Bowmark Capital.
It says that Bowmark has seen off competition from rival bidders including LDC and Inflexion and could conclude a takeover of Romans, which operates more than 20 branches and employs more than 350 people, within days.
Bowmark already backs the lettings chain, Leaders, in which it invested in 2010.
Romans did have something of a 'bad boy' reputation in the estate agency world but has since gone on to win several awards.
https://www.key103.co.uk/news/business/20130818-osborne-s-help-fuels-50m-estate-agency-deal/
Comments
@mmm
allagents is slowly going to be beaten by estateagent.me, their system is incredible, we are stopping AA its a mess. 1 month with EA.me and we have more feedback and 5 new valuations.
It will be interesting to see if they can win allagents top awards this year
And good for them / the owners, good work all round and as the article says they binned the bad boy / baby eater image and now its cash in time
Jonnie
PeeBee's prediction:
"And the winner of this year's Cartis Cup is....
Rom... erm... I mean BOWMARK Estate Agents"
;o)
Romans have rightly earned their reputation as being one of the best estate agencies in the UK as confirmed by being the first company to hold both The Estate Agency of the Year and Lettings Agency of the Year Awards in association with The Sunday Times & The Times, indeed they are the first to win the Estate Agency of the Year two years running.
They set a finr example for others and no doubt will continue to do so as all the senior management team will still be running the business.