Estate agency hits acquisition trail again to extend its geographical portfolio
Liverpool-based Berkeley Shaw Real Estate is back on the acquisition trail after its boss was so impressed with the firm that handled his latest house move, he bought it.
It has completed the acquisition of Adams Estate Agents in Cheshire as it continues its drive to broaden its geographical and service offer.
The move follows the company’s recent acquisitions of Preston’s PR Lettings and Maghull-based Ian Crane Estate Agents.
In January this year Berkeley Shaw secured a significant six-figure working capital loan from NPIF II-FW Capital Debt Finance to fund its growth strategy.
The latest deal extends the group into the Warrington, Widnes and Runcorn sales, lettings and now block management markets.
Berkeley Shaw managing director, John Baybut, said: “Joining Adams with Berkeley Shaw means we can introduce block management, surveying and commercial property management to Cheshire whilst opening wider career opportunities for our current and new colleagues alike.
“All this whilst remaining part of an independently-owned real estate business which both sets of clients value so highly.“
He added: “I want to extend a warm welcome to all our new colleagues from Adams and I am very much looking forward to working with such an experienced and successful team.”
Baybut says it was ‘more than geography’ that led him to conclude that Adams was a good fit.
“I got to know the Adams team well because they’ve just handled both the sale of my existing home and the acquisition of my new one, so I experienced their professionalism first hand.
“Of course, extending our geographic reach on my personal doorstep was an attraction, but so was their independent ethos and can-do attitude.”
Adams has offices in Runcorn, Widnes and the popular Warrington suburb of Stockton Heath, and the deal brings 25 new colleagues into the Berkeley Shaw fold, taking the firm’s headcount to more than 60.
The deal will see Adams re-brand to Adams Real Estate in the coming months, reflecting the wider property-related services now on offer to its clients. The move will retain the rich history and brand values nurtured since the firm’s inception by Michael C. Adams in the 1990s.
Adams’ managing director, Damian Morris-Adams, said: “It was important that Adams Estate Agents continued under the leadership of someone who shares our values, principles, and commitment to exceptional service.
“Sincere thanks to Atomic Consultancy for their invaluable assistance facilitating this transaction. Their guidance and expertise were instrumental in ensuring a smooth transition. I am immensely proud of what we have achieved over the years and am grateful to my colleagues, our clients and partners who have supported us.”
Lucy Noonan, of advisor Atomic Consultancy who brokered the deal, says the imperative of the new financial year focused everybody’s mind: “We were privileged to act on this deal for Damian at Adams Estate Agents, and an incredible amount of work was done by both sides to close the deal so swiftly and neatly.”
In addition to traditional estate agency, with large sales and lettings teams, Berkeley Shaw also offers block management with more than £1bn of assets under its care.
Berkeley Shaw’s property management arm is responsible for prime residential buildings such as Waterloo Warehouse, Beetham Tower and Wapping Quays in Liverpool.
