Former part-timer Rachel takes over estate agent

A CUMBRIA estate agent has been bought out by the woman who started working for the company part-time 17 years ago as she raised her family.

Rachel Ritson was initially brought into Grisdales – with offices in Cockermouth, Workington and Whitehaven – to organise its accounts.

But she rose to become a director and shareholder when it was incorporated in 2007.

For the last ten years she has been instrumental in helping the business deliver its aim to support clients throughout their whole property journey.
 
Tim Grisdale, who launched the business in 1997, retired from the day-to-day running of the business at the end of 2014. This enabled Ritson to take more control of operations and through an introduction from Burnetts solicitors, she and Grisdale were able to work with the Corporate Finance Team at Armstrong Watson for her to take over the business.

Led by corporate finance partner Richard Rankin, the buyout went ahead.
Rankin said: “It’s fantastic to see that entrepreneurial spirit in Rachel. She has played a valuable contribution to Grisdales over the past 17 years, developing the business, moving through buying into it and now pursuing the opportunity to take full ownership.

“There have been many hurdles to overcome and it’s through establishing a sound and honest working relationship with Rachel and Tim that we’ve been able to support all parties in getting the best possible outcome.

“It’s fantastic to see Rachel now in full ownership of the Company and I know that Grisdales faces a strong, secure future under Rachel’s steer.”

Ritson said: ‘I’m looking forward to the future of Grisdales and completely committed to supporting the people of West Cumbria though every stage of their property journey.

“Our business values of passion, honesty and expertise underpin everything we do on a daily basis and our culture of learning means we are continually challenging ourselves to provide the best possible service for our clients.”

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