Property firm undergoes six-figure MBO
A six-figure funding package has enabled two Sheffield businesswomen to buy South Yorkshire property companies, Omnia Estates and Omnia Offices, to create a new company called R&R Yorkshire Properties.
The management buyout (MBO) sees , Joanne Race and Amy Ryan, who have worked at Omnia Estates and Omnia Offices as head of finance and head of lettings respectively for a number of years, become the new owners of R&R Yorkshire Properties.
The merged company will continue to provide large-scale residential and commercial property lettings and management services.
Race said: “HSBC’s financial backing and guidance gave us the means and confidence to undertake this buyout and we’re excited to take the business to the next level while continuing the great work of our predecessors.”
Ryan Slater, HSBC relationship manager for South and West Yorkshire, said: “HSBC is committed to supporting the growth of local businesses in South and West Yorkshire, so we are pleased to have backed Joanne and Amy in their management buyout. The property market in Sheffield remains positive, so their buyout comes at an ideal time to consolidate their position and continue to pursue growth. We wish them every success for the future.”
