Leicester property firm swoops in private equity-backed deal
Leicester-based estate management firm Bellrock has bought Profile Consultancy in a deal backed by Lyceum Capital.
Profile, based in Bedford and York, is a provider of service charge and insurance management in the retail and leisure sector. It currently manages some £250m of service charges a year.
“Profile is a highly skilled professionally led property advisory business that will add to our capabilities in supporting all our client’s estate ambitions. Whether through property management, software support, FM service integration or full end to end management of your estate, we have an answer to deliver your needs” said David Smith, chief executive at Bellrock.
Adam Lewis, investment director at Lyceum Capital, said: ““Bellrock continues to lead the way in technology-enabled property and facilities management and the acquisition of Profile further enhances the group’s expanding Property Services offering.
“Bellrock has successfully integrated a number of strategic acquisitions, adding capabilities that have transformed the firm into an essential partner for commercial clients and their property needs.
“David and his team have achieved a tremendous amount in their efforts to build Bellrock into the market leader that it is today and we look forward to supporting the team in further acquisitions.”
BDO advised the shareholders of Profile. Satvir Bungar, head of facilities management and M&A managing director at BDO, said: “The management team at Profile has developed a unique proposition in a competitive service charge marketplace.
“There is real commercial synergy between the two organisations and Profile’s activities significantly complements the other, with Profile’s clients benefiting from Bellrock’s technical innovations, geographical reach of its new colleagues and access to additional resources.
“Bellrock is moving at a fast pace, expanding organically and through targeted acquisitions, and this significant investment is yet another great deal for Bellrock.”
Adam McGiveron, partner at Shakespeare Martineau, and Emma Bryant provided legal advice to the shareholders of Profile.
