Property management and development group Places for People has acquired RMG in a deal advised on by Clearwater Corporate Finance.
Hertfordshire-based RMG provides property-related services, including estate management, grounds maintenance, and rent and service charge collection, to a number of housebuilders, registered providers, landlords, and local authorities.
RMG also manages housingoptions advice, private sector leasing and facilities management services to local authorities across London and the South East.
Places for People is one of the UK’s largest property management and regeneration companies in the UK, with 81,000 homes under management and £3billion in assets. It has offices across the UK, including York.
Clearwater’s specialist Real Estate team advised RMG on the sale. The team comprised partner Marcus Archer and assistant director Andy Strickland.
Marcus Archer said:
We are delighted to have helped RMG secure this deal. It hassuccessfully established itself as one of the key players in the residential property management sector, and is a market-leading business with a strong, established national brand.
The sale will provide RMG with the opportunity to leverage the market position and operating platform the management team has established to deliver its growth plan.”
Hugh McGeever, managing director at RMG, said:
Places for People delivers excellent services in regeneration, new development and community initiatives. We arereally looking forward to working with the team and will continue delivering high-quality services while expanding our portfolio of customers.
RMG received legal advice from Olswang. Eversheds advised Places for People.
Clearwater Corporate Finance, part of IMAP, the network of international M&A advisers, is a leading mid-market corporate finance advisory house with offices in London, Birmingham, Nottingham and Manchester.