Hot on the trail...
Hot on the trail
Belvoir’s focus on expansion through acquisitions continues…
The injection of funds into Belvoir Lettings following the company’s successful flotation on the AIMs market of the London Stock Exchange in February 2012 has facilitated an ambitious expansion programme.
“Belvoir has a strong acquisitions strategy and I am delighted to report that several transactions have already been finalised,” says Belvoir CEO, Dorian Gonsalves. “Successful acquisitions have been made by Belvoir St. Helens, Belvoir Wellingborough and also Belvoir Tunbridge Wells, which completed its second acquisition in 12 months.
“Several Belvoir franchise owners are also very close to completing acquisitions and our Central Office team is receiving daily calls from business brokers with exciting news about companies that are coming onto the market.
“Each acquisition is carefully assessed for viability and due diligence by Sunaxis, a business transfer specialist that we have commissioned. Sunaxis works with each franchise owner on an individual basis to identify and approach potential acquisition targets by way of an active search, using a variety of methods. Where appropriate Belvoir is able to offer financial assistance that enables franchise owners to successfully grow their business, which in turn benefits the entire network.
“Over the past 15 years Belvoir has experienced almost every possible scenario with regard to acquisitions and our team at Central Office has solutions to almost any challenge. This may include providing assistance and advice on sourcing suitable new premises, rebranding an existing office, or integrating and training new staff into an existing team.
“This is a very exciting phase in Belvoir’s development. In addition to our existing growth, in the next 12 months we aim to increase group turnover by around £2 million. Further news about our acquisition plans will be released in the near future.”
Biggest and best
John and Sadie Haynes of Belvoir Tunbridge Wells complete their second acquisition, making them the biggest letting agent in town.
The past 12 months have been extremely busy for John and Sadie Haynes. After winning Acquisition of the Year at the 2012 Belvoir Annual Awards in February, the father and daughter team have successfully completed a second acquisition.
“We completed the acquisition almost a year to the day after the first one,” says John. “The latest acquisition had been established for about four years, and was a lettings agency with a portfolio of about 120 managed properties.
“Sadie and I also took on their staff and we now have a team of eight people and approximately 265 managed properties. This acquisition means that Belvoir Tunbridge Wells is now the biggest lettings agency in the town.
“It is my dream that when the residents of Tunbridge Wells think of letting their property they automatically think of Belvoir. Taking on additional staff means that we have had to extend our office space to accommodate them, but I am also currently looking at new premises in a prime location so that Belvoir Tunbridge Wells becomes a real landmark in the town.
“I already have my eyes open for another acquisition and when another opportunity arises I will definitely use the expertise that is available at Belvoir’s Central Office.”