Five directors of Landwood Group have become the sole owners of the Manchester-headquartered property business following a management buyout.
The directors have purchased the shares held by MRA Professional Services Group via Landwood Group Holdings.
Landwood Group has seen considerable growth in recent years, including a merger in March with chartered surveyors Wignall Brownlow. This brought together Landwood’s expertise in project and asset management and auctions with Wignall Brownlow’s specialism in the recovery sector, including the appraisal and sale of machinery, equipment and residential and commercial property.
Mark Bailey, Richard Parkinson, Helen Jude, Kate Lay and James Ashworth will now focus on the firm’s future growth and develop the markets they operate in.
Bailey said the team had ambitions to double the size of the business within the next five years.
“We are very much in growth mode – both building within the markets in which we currently operate and growing into new service areas,” he said.
“It has been a pleasure working alongside MRA Professional Services for the last 4.5 years and I thank them for their support during that time. However, we are now focussed on a future that builds on the strength and depth of our team, of whom we are incredibly proud and will be looking to recruit into new areas to support these plans.”
MHA Moore & Smalley and TLT advised on the deal.
To send feedback, e-mail jess.harrold@eg.co.uk or tweet @EGPropertyNews
