TM Group, a high profile provider of data and technology services such as tmconvey, mio, and tmconnect, has been sold to European private equity firm AURELIUS.
The sale will conclude the undertakings entered into following the decision of the Competition & Markets Authority that the acquisition of TM Group by Dye & Durham - originally agreed in July 2021 - would have reduced competition for the provision of property searches in England and Wales.
A statement says that with AURELIUS' support, TM Group will “continue to develop and expand its portfolio of customer-facing solutions, serving all key constituents involved in property due diligence.”
It says new products, including its Seller’s Upfront Information, Secure Data Sharing and Property DNA propositions, will deliver efficiency and time-saving benefits to its customers.
Joe Pepper, chief executive of TM Group, commented: "We are thrilled that the sale of TM Group to AURELIUS has now been completed, and to have secured further investment from AURELIUS, a partner that shares our vision for growth and innovation. This collaboration will allow us to further develop and enhance our product offerings, leverage our strong brand recognition, and continue to build on our prominent property market presence."
And Tristan Nagler, a partner at AURELIUS, adds: "Our investment will bring additional opportunities for TM Group to develop its innovative and market-leading product offerings at the heart of the UK property market, while also continuing to focus on outstanding client service."
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Very interesting as Aurelius have a vast portfolio, and are not industry vertical specific, and have a good track record of scaling up acquired businesses, and good news for Joe and the team, as it ends a sustained period of 'uncertainty' caused by the CMA debacle. Onwards and upwards.
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