The Property Franchise Group has acquired The Guild of Property Professionals and Fine & Country, from Nurtur.Group.
Limited for an initial consideration of £15 million payable in cash and £5 million payable on the first anniversary of completion of the Acquisition.
The Guild and Fine & Country provide services to a total of 1,036 outlets, of which 65 are international, broadening TPFG’s existing network of 910 outlets to 1,945.
In the year ended 31 December 2023, the Acquisition produced audited revenues of £13.2m, audited EBITDA of £3.5m and PBT of £3.3m. 73% of FY2023 revenues were from recurring memberships and licences and the total consideration represents c.5.7x 2023 audited EBITDA. Post-Acquisition leverage for the Group will be below 1x FY2023 pro forma adjusted EBITDA.
The Acquisition fits within the Group’s strategy to acquire accretive businesses with complementary and recurring revenue streams which deliver network expansion and geographic growth, as clearly demonstrated with TPFGs merger with Belvoir Group plc in March 2024.
WIDER STRATEGY
Gareth Samples, TPFGGareth Samples, Chief Executive of TPFG, says: “The Acquisition continues to deliver on our wider strategy of delivering breadth and depth to our network.
“It further enhances TPFG’s recurring revenue streams, adds the additional dimension of licensing to its platform and one significant complementary service, printed marketing materials.
“I am really excited about working alongside Iain McKenzie and the team to continue the growth across the Group and providing additional benefits to our network.”
Iain McKenzie (main picture), Chief Executive of the Guild and Fine & Country, adds: “I am genuinely delighted and excited by the opportunities created by our two businesses coming together; placing The Guild and Fine & Country under an established and growing organisation, broadening TPFG’s geographical footprint.
“We have a proven track record of delivering innovation and marketing services across our network, and, as a consequence of now being part of a larger group, our customers will benefit from existing supplier partnerships, allowing us to introduce significant additional benefits.”
