A Cambridge-headquartered property management group has boosted its portfolio of residential properties by 16,000 through its latest strategic acquisition.
Our Corporate Finance team has advised Encore Property Management Group on the acquisition of Peterborough-based estate and community management specialist Preim Ltd with the support of its backer, Queen’s Park Equity (QPE). With Preim currently managing 16,000 properties across England and Wales, the acquisition sees Encore add significant scale, geographic expansion and housing development expertise to its portfolio.
FRP Partner Chris Adlam, alongside Senior Manager Joanne Price and Director Matt Field advised on the deal, which represents Encore’s first acquisition since QPE backed a management buyout in March 2021 and its fifth acquisition since it was founded in 2004. We also supported QPE on its initial investment in the business last year.
Joaquim Fillola, CEO of Encore, said: “PREIM has a fantastic reputation and track record with long-standing client partnerships. The business is a great strategic and cultural fit, with the PREIM leadership team being Encore alumni. We look forward to working together as we strive to be the most professional managing agent in the country, providing our clients with the best service.”
Alison Price, QPE added: “We are delighted to welcome PREIM into the Encore group. PREIM’s expertise in working with housing developers across England, its reputation for quality and its differentiated focus on residential community engagement make PREIM a highly attractive and natural fit with Encore.”
Chris Adlam, Partner at FRP Corporate Finance, said: “The residential management market remains fragmented and managing agents are entering an exciting period of consolidation, with buy and build strategies like Encore’s representing a flight to quality. It was a privilege to advise on the initial investment last year and likewise it’s even more exciting to now support Encore in making such a significant first acquisition with QPE supporting and powering its growth.”