Romans

Adviser to Bowmark Capital on their investment into estate agency firm, Romans.

The deal

Our Corporate Finance team has successfully worked with Bowmark Capital providing debt advisory support in their recent management buy-out of Romans Group, a leading property services business operating across Berkshire, Surrey and Hampshire.

Founded in 1987, Romans has grown from a single site in Bracknell to an extensive network of 18 branches across the region. The company provides a comprehensive range of estate agency, lettings agency and associated property services to buyers, sellers, landlords and tenants. Romans has an outstanding reputation for service amongst its customers and throughout the property industry as a whole, winning the UK Estate Agency of the Year award for the past two years.

The buyout team is led by Romans’ Group Managing Director, Peter Coles, a highly respected industry executive, who has been with the business for 25 years. Romans has achieved impressive growth in revenue and profits in recent years, both organically and through the acquisition of lettings branches and portfolios. Bowmark will provide significant additional capital to support the continued roll-out of new offices and future acquisitions. A key element of the debt package arranged by the team was the inclusion of an acquisition and expansion funding line.

The team’s knowledge of debt provision into the property services sector over a number of years alongside its detailed knowledge of debt markets and the mechanics of structuring roll-out debt facilities alongside acquisition funding were key factors in their involvement in the project. The highly responsive and partner led approach at the team enabled the provision of flexible and hands-on deal support to Bowmark. Working to a tight timetable, the team was also able to deliver a tailored and fully integrated financial model for the management team.

“We were very pleased with the support provided by the team who showed great speed of response in mobilising on the project and a highly flexible and added value approach to the way in which they worked alongside the Bowmark team. The team played a key role in putting in place a very competitive and flexible debt package within a very tight timeline.” Tom Shelford, Bowmark Capital.

Deal summary

Date:

October 2013

Sector:

Real Estate

Deal type:

Debt Advisory

Deal size:

£50 million

We were very pleased with the support provided by the team who showed great speed of response in mobilising on the project and a highly flexible and added value approach to the way in which they worked alongside the Bowmark team. The team played a key role in putting in place a very competitive and flexible debt package within a very tight time-line Tom Shelford Partner at Bowmark Capital

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