Encore Group

DEALS: Encore Group

Encore Group logo

THE DEAL

  • Sector: Business Services
  • Deal type: Management Buy-Outs
  • Deal size: Undisclosed
  • Year: 2021
  • Lead partner: Clive Hatchard

DEAL TEAM

Chris King Clive Hatchard Richard Boyden Stephan Caps

Spectrum Corporate Finance has successfully advised Encore Group (“Encore”), a leading specialist property management solutions provider on the management buyout, backed by Queen's Park Equity ("QPE").

Based in Cambridge, Encore is an award-winning residential managing agent, providing a range of estate management services to over 27,000 properties across the UK. The business has grown strongly in recent years as a result of its longstanding relationships with housing developers and 16-year record of providing high quality services to customers.

Spectrum Corporate Finance was appointed by the shareholders of Encore Group to complete a full sales process which involved marketing the business to both trade buyers and private equity investors, prior to entering into exclusivity with QPE.

With QPE’s support, Encore will continue to invest in its people, the Encore Training Academy, technology platform, compliance and support infrastructure which is becoming increasingly vital as new regulation emerges across the sector. The supplier landscape is highly fragmented and QPE’s investment will support a combination of organic and accelerated growth opportunities.

Joaquim Fillola, CEO of Encore said, “I am hugely proud of what the team at Encore has achieved over the past 10 years and I am excited about the next phase of growth. In QPE we have found a culturally aligned investor who understands the sector and the importance of delivering best-in-class quality services to our customers. We welcome the QPE team to the board and look forward to the value they will bring through their investment experience.”

Jonny Kay, Managing Partner of QPE added, “Encore stood out for us because of its highly professionalised and customer-centric approach. We have been impressed by the business’ positive customer feedback from developers, freeholders and RMCs alike, as well as its financial performance. We believe the sector will continue to evolve and become increasingly complex as the regulatory backdrop develops, so will benefit from continued investment and professionalisation. We are delighted to back Joaquim and the team.”

“Having decided to seek corporate financial advisors to support us in taking our business to the next stage of maturity, Clive and his team at Spectrum far outshone their competitors we interviewed. From the initial presentation, it was clear that Spectrum do their research and understand the aspirations of their clients. Their approach gave us confidence in the advice and recommendations given and we certainly made the right decision in appointing them. Clive and the team listened to us, advised us, educated us and ultimately gave us peace of mind throughout the transaction. Spectrum quickly became very involved with our management team and fully understood the business and where it is headed. We are all delighted with the MBO supported by QPE. We spent 15 years building an extraordinary business, which thanks to Spectrum, is now operated and supported by an extraordinary team and poised for expansion. Quite simply, Spectrum brought the right investors to the party, and Encore has a very exciting future which we are proud to remain a part of.” Stephen Chard and Neil Robinson, founders of Encore Group
“We really enjoyed helping Neil & Stephen find the right investor to take the business forward with the team that had helped them build it for so many years. It was also great to complete a deal with QPE so soon after they launched the new fund. Encore operates in an exciting space which is entering a period of significant consolidation and I have no doubt QPE will ensure that the business capitalises on the buy and build opportunities available in the sector.” Clive Hatchard, Managing Director, Spectrum Corporate Finance