Worcester property manager merges with PE-backed counterpart
Worcester-based property and asset manager, Mainstay Group, has merged with FirstPort, a private-equity backed counterpart.
Last year FirstPort was backed by Equistone Partners Europe. To date, FirstPort has completed two previous transactions, buying Barratt London’s property management company, BRAM, in 2019 and Linden Homes’ property management provider, Pentland Estate Management, in 2017.
For FirstPort and Mainstay customers, clients, employees, management, and supply partners day-to-day operations will remain unchanged.
Nigel Howell, CEO of FirstPort, said: “We are delighted to be joining forces with Mainstay to deliver the very best property and asset management services for our customers and clients. Mainstay’s achievements and track record are impressive, and we are proud to be welcoming them into the FirstPort group. This is a great milestone for both businesses, which will see us learning from each other and working together to continue to drive the highest industry standards and realise new market opportunities.”
Luke Sanders, group managing director of Mainstay, said: “This is an exciting opportunity for the Mainstay Group to continue to deliver a market-leading service, while benefiting from the skills, expertise and efficiencies available being part of a larger group. I am very much looking forward to working with FirstPort, as the right partner for our next phase of growth and to help build on Mainstay’s achievements and successes to date.”