The deal

FRP Corporate Finance has advised award-winning specialist property management solutions provider, Encore and Queen’s Park Equity on their investment into Knight Frank’s Residential Asset Management (RAM) division.

Encore, headquartered in Cambridge, is an award-winning Residential Managing Agent (“RMA”). As one of the largest RMAs in the country, it provides a range of estate management services to over 60,000 properties from its five UK offices of Cambridge, London, Sandhurst, Nottingham and Peterborough. Encore has grown strongly in recent years as a result of its longstanding relationships with housing developers and 16-year track record of providing high quality services to its customers. The business exhibits high degrees of revenue visibility and cash generation from its embedded portfolio as well as pipeline of new developments being onboarded.

Founded in 1896 and headquartered in London, UK, Knight Frank is one of the world’s leading independent real estate consultancies. Delivering innovative facilities management services across the UK, they provide onsite management for a range of commercial, residential and mixed-use properties and for both landlords and occupiers.

Our FRP Corporate Finance and Financial Advisory teams were appointed to conduct financial due diligence on RAM and the associated personnel management company. RAM’s portfolio of high-end London properties was an ideal fit for Encore, who won London property management company of the year in November 2022.

Dan Bowtell, Partner at FRP Corporate Finance, said: “It was a pleasure to advise Encore and QPE on another bolt-on acquisition which will see them increase their exposure to the lucrative London market.”

Joaquim Fillola, CEO at Encore, said: “Knight Frank has tremendous brand pedigree, a great team and long-standing client partnerships. We are proud they have chosen Encore to be the custodians for their residential management people and clients. With its niche of high-end developments, it will complement and extend our presence in central London. We are delighted to be working with like-minded professionals who are focussed on delivering results for our clients.”

Michael Toogood, formerly a Partner at Knight Frank and now Regional Director at Encore, said: “Whilst this has been a carefully considered decision by Knight Frank, I am delighted at the enthusiastic feedback from clients and staff alike regarding our next chapter. Under Encore’s stewardship I know the whole team shares the excitement as to the compelling service proposition we can provide our clients.”