Seven day wonders: Grant Thornton completes deal double
The Corporate Finance team at Grant Thornton has completed on two transactions in Peterborough within a week, as activity levels continue to remain strong after a record 2021.
The latest deals saw the team advise the shareholders of two Peterborough businesses, one operating in the property management sector and the other in packaging.
The first saw the sale of PREIM, a residential property managing agent with a portfolio of more than 16,000 properties, to Encore, a company backed by private equity investor Queen’s Park Equity.
The deal will enable PREIM to continue its recent growth, particularly building relationships with major UK housing developers.
Neil Oakey, founding partner of PREIM said: “I am enormously proud of what the team at PREIM has achieved over the past 10 years and I am excited about the next chapter of the company. We fundamentally believe that this provides the basis for our future growth.
“In Encore we have found a partner with the capability, professionalism and expertise to help us grow.”
The second transaction saw global flexible packaging and lidding films supplier KM Packaging sold to its employees via an Employee Ownership Trust.
Charles Smithson, managing director said: “KM is a proudly independent company and has achieved significant growth in both domestic and export markets.
“The EOT is a natural transition as it builds on the company's values of trust, ownership, passion, and innovation that have been established over the last 38 years.
“The company’s employees are passionate about the business and its values. They are the people who should reap the future rewards for their hard work and dedication.”
Stuart Davies, corporate finance director at Grant Thornton in Cambridge added: “There is a tangible buzz around Peterborough with significant appetite for investment in the area, mirroring the picture across the wider region where both trade and Private Equity appetite remains strong.”
In 2021 the Grant Thornton team advised on 28 deals in the Central and East region.