Birmingham-based property firm and auction house CPBigwood has been acquired by national property group Shepherd Direct.
The acquisition, for an undisclosed sum, will boost Nottingham-headquartered Shepherd’s auction, property management and commercial agency offerings.
The firm’s name will remain as CPBigwood and senior partner Rory Daly will remain with the business as chief executive officer.
He said: “This marks the next step in the evolution of CPBigwood and will further enhance our position as a major player in the auctions and residential service charge management sectors. It also allows us to accelerate our growth plans.”
CPBigwood is the largest auction house in the UK north of London. CPBigwood, formed when Bigwood merged with Curry & Partners in 2011, delivers £80m of property auction sales per annum and has more than 25,000 properties under management.
The combined group will now generate £60m+ turnover per annum and has 400 staff across offices in Birmingham, Glasgow, London, Loughborough, Southampton, Stratford-upon-Avon and the group headquarters in Nottingham.
Group chief executive Paul Gratton said: “SDL is a fast-paced, successful growing property services group which has quadrupled its turnover in the past five years and remains extremely ambitious.”
