North West estate and lettings agent Regan & Hallworth has completed a management buy-out (MBO) led by directors Andrew Herterich and Joel Edgerton, backed by six-figure funding from NPIF II–FW Capital Debt Finance.
The loan, provided through the Northern Powerhouse Investment Fund II, has enabled the management team to acquire the business and invest in its future with additional working capital.
Founded in 1996, Regan & Hallworth operates from a head office on Library Street in Wigan, with additional offices in Standish and Parbold. The firm serves customers across Wigan, Standish, Leyland, Chorley, Parbold and surrounding areas of West Lancashire.
The business was originally established as a partnership between Amanda Law (formerly Hallworth) and Andrew Regan. Following Regan’s departure in 2018, Herterich and Edgerton acquired a minority stake in the company.
Under the MBO, Amanda Law has retired and full ownership has transferred to Herterich and Edgerton, who have each worked at Regan & Hallworth for more than 20 years.
Herterich, said: “Taking ownership of the business was a natural progression for Joel and I, giving us the opportunity to be the captains of our own ship.
“Regan & Hallworth is a leading independent estate and lettings agency that has achieved considerable success. We’re now focused on maintaining this success and continuing to work hard to grow the business.”
He added: “Without the support from Steve Molyneux at FW Capital this deal wouldn’t have happened. Steve was brilliant, he was on hand to talk to us on a daily basis to ensure the smooth completion.”
Steve Molyneux, senior investment executive at FW Capital, commented: “Regan & Hallworth is a very well established business that is a market leader in its field locally.
“We’re excited to back a highly experienced and ambitious management team and look forward to supporting Andrew and Joel’s growth journey moving forward. The MBO is an exciting step forward for the business and the NPIF II investment has assisted this as well as the provision of working capital to support continued growth.
“Supporting North West businesses to realise their ambitions and drive forward business success is exactly what the NPIF II funding has been created for.”