Pradera and LJ Partnership have completed a deal in which LJ Partnership has acquired a significant minority interest in Pradera.
Pradera’s other shareholders include the current senior management team, which retains full control of business strategy and day-to-day operations.
Following completion of the deal, two senior directors from LJ Partnership, Jonathan Elkington and Simon Berrill, will join the Pradera board.
Paul Whight, who sold his controlling stake in Pradera to the Colin Campbell Family Trust in April 2015, has now resigned from the position of non-executive director of Pradera.
Managing director David Fletcher said: “This significant investment marks the beginning of another exciting phase for Pradera that should take the company into new segments of the retail market and over time into new geographies.”
Chairman Colin Campbell said: “This investment by LJ Partnership brings a long-term strategic partner with a commitment to helping us expand the business.”
Andrew Williams, chief executive officer of LJ Partnership, said: “This collaboration comes at a time when LJ Partnership is enjoying rapid growth. It will broaden and deepen our European platform, enhance our local presence in major European markets and enable us to bring a broader range of investment opportunities to the select group of individuals and families that we represent.”
• To send feedback, e-mail amber.rolt@estatesgazette.com or tweet @AmberRoltEG or @estatesgazette
