Belvoir has made a small acquisition that has the potential to add significantly more value than the £0.2m initial cash consideration suggests.
MMC offers a personal, high-quality approach to their clients with fees comprised of a fixed monthly support fee and a percentage of sales revenue.
Belvoir Group acquires 'personal-style' estate agency in strategic move
Belvoir will be able to support MMC’s growth by increasing the flow of potential partners, extending the service offerings to include financial services and lettings, providing enhanced legal, compliance, marketing, IT and general support to partners and the opportunity for accelerated growth under Belvoir’s established Assisted Acquisitions programme.
With net debt of only £1.3m and the inherent strong cash flow characteristics of its franchise model, Belvoir has significant potential to add value by acquisition.