A major regional estate agency, Badger Holdings Group whose high street brands are Townends and Regents, has been bought for an undisclosed sum.
The purchaser is Nick Dunning Associates, headed by former Countrywide commercial director Nick Dunning, who this morning made it clear this is only the first of his acquisitions.
Badger, founded by Tony Addinall, has 26 branches in London and the southern home counties. Its management, headed by group CEO Seamus Kavanagh, stays in place.
Nick Dunning Associates was founded by Dunning soon after leaving Countrywide in April 2015. He left at the same time as estate agency director Bob Scarff. At Countrywide, Dunning was responsible for running the profitable lettings division, and oversaw the acquisition of circa 100 businesses throughout the UK.
Working with a leading private equity investor, Nick Dunning Associates has the objective of building a new scale player in the lettings agency sector and is actively looking to acquire further lettings focused agencies across the UK. The firm is open to working with established management teams who are prepared to stay with their business post acquisition and share in its continued growth.
Dunning said of his acquisition: “The Badger Holdings Group is an extremely well run business with an excellent reputation and a solid record of profitability. It is a great platform from which to grow our business in London and the Home Counties.
“We will be looking for the management team to drive growth organically in all its business divisions but also through strategic acquisitions and expanding their branch footprint.”
Kavanagh said: “Everyone at Badger is very excited by the acquisition of our business by Nick Dunning Associates. Nick and his team bring a wealth of experience and knowledge that will be invaluable in helping us to grow our business and achieve our objectives. I would be pleased to hear from owners of other lettings focused businesses in London and the Home Counties who may be considering an exit in the next few years.”
Townends and Regents have branches in the following locations: Addlestone, Aldershot, Brook Green, Chertsey, Chiswick, Croydon, Ealing , Earlsfield, Egham, Englefield Green, Guildford, Mitcham, Northfields, Putney, South Norwood, Southfields, Staines, Streatham, Sunbury-on-Thames, Thornton Heath, Twickenham, Whitton and Woking
Congratulations to Nick and his team. A tremendous gain to those that recognise Nick’s talent and acumen; a huge loss (as is evident) to cwd.
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“A huge loss to CW” – are you sure? I’m no fan of Platt but on that point I think quite a lot of people might disagree with you there and think she made the right choice to sack him…
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Sorry Ash. Nick presided over a period of tremendous growth and investment? He was fundamental in getting the company to a place where it could be floated (again). He may not be perfect (who is?) but, he let those that know the job get on with it, recognised that lettings & management was a way of having a stable income stream and I can’t think of anyone who knows anything about agency having a preference for the ‘clowns’ in charge and driving the company to ruin such as Mrs P and Ms T.
Mark my words; the AGM is coming and with it a change methinks!
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Brilliant news, congratulations and concerns for the competition ……. lets face it there will be a queue forming outside Nicks door of quality property people waiting and hoping to be part of this exciting venture.
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Looking at http://nickdunningassociates.co.uk/Team you can see that’s already happened!!!
I wish them the best of success on this adventure – they are all believers and enablers in people and I look forward to seeing what happens next…
Perhaps they will buy CW on the cheap at current £1.74 share price!
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know a few people who have worked for Badgers
one of the reasons why the tenant ban has been proposed, charging £700 plus in tenant fees, £100 renewals to landlord and tenant, let only renewals to landlords in years one and two without doing any work ….the list is endless
also have their own maintenance company called INEX who inflate prices by 25% and then pay commission back to the parent company
might make lots of dosh but off the back off procedures which certain people should be looking at !!
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A dog with fleas – and other ailments!
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Watch out negs. “blood & snot ” everywhere, shortly.
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