Winkworth has brushed aside suggestions that its gearing up for a sale after it appointed two high-flying non-exec directors to its board yesterday.
Tom Fyson and Jonathan Adams joined Winkworth’s Audit Committee and Remuneration Committee respectivly.
Both have strong City credentials and replaced John Nicol, who had been a Non-Executive Director of the Company and a member of the Audit and Remuneration Committees since June 2014.
Tom FysonFyson has over 20 years of financial experience, having begun his career at KPMG, where he qualified as a chartered accountant, before moving into corporate finance in 2006.
He is a Managing Director of Blackdown Partners, an independent advisory firm providing public and private businesses with advice on corporate finance, M&A, capital markets, investor relations and strategy.
Jonathan Adams Adams meanwhile spent 14 years in M&A and as an equity analyst at JPMorgan before working as a global fund manager, initially at Citigroup and, subsequently, for 16 years at Investec.
In 2022, he founded Butterwalk Advisory LLP, providing advice to, and investing directly in, small cap companies.
Simon Agace, Non-executive Chair of Winkworth, says: “We are delighted to be welcoming two new members to the Board and look forward to Tom and Jonathan bringing not only their extensive professional expertise but also fresh pairs of eyes to the future growth of the Company.”
However, rumours are rife that Winkworth may have already been approached about a sale given recent mergers and acquisitions in the sector.
Earlier this week The Property Franchise Group snapped up Fine & Country and The Guild of Property Professionals from nutur.group.
Meanwhile sales at Winkworth, one of the biggest franchisors of estate agencies in the UK, are thought to be 20% up this year while Simon Agace will celebrate his 82nd Birthday in November and could be looking to capitalise on more expected consolidation in the sector.
WRONG
But Dominic Agace (main picture), Chief Executive of Winkworth, says: “It is wrong to suggest that Winkworth is putting itself up for sale.
“This is part of the natural evolution of the non-executive board. Both appointees have experience of helping companies to grow.”
He adds: “Equally, as consolidation intensifies in the sector, these new non-execs will be able to help advise on all available opportunities that can add value for customers, franchisees and shareholders.”
