Corporate Finance

FRP advises Encore on PREIM acquisition

Deal adds 16,000 homes to Encore’s portfolio

Background

Based in Cambridge, Encore Property Management Group is an award-winning residential managing agent, providing a range of estate management services to more than 27,000 properties across the UK. FRP’s team advised Encore on a management buyout (MBO) of the business, backed by Queen’s Park Equity (QPE), in 2021. When the company identified Peterborough-based residential managing agent PREIM as a potential acquisition target, it once again engaged FRP.

Action

Our Corporate Finance team was appointed to carry out financial due diligence on PREIM – being Encore’s first acquisition since the QPE investment – as part of the company’s long-term buy and build strategy. PREIM’s expertise in working with housing developers across England, its reputation for quality and its differentiated focus on residential community engagement made it a highly attractive and natural fit with Encore.

Outcome

The successful acquisition of PREIM has boosted Encore’s portfolio of residential properties by 16,000.  The deal is both a strategic and cultural fit, with the PREIM leadership team being Encore alumni.

16,000

16,000 properties

The number of properties added to Encore’s portfolio through the PREIM acquisition.

Related team

Chris Adlam

Chris Adlam

  • Partner
  • Corporate Finance
  • Norwich

Joanne Price

Joanne Price

  • Associate Director
  • Corporate Finance
  • Norwich

Matt Field

Matt Field

  • Director
  • Corporate Finance
  • Norwich