Estate agency and property services firm the Connells Group has acquired Peter Alan, an estate agency business with 26 branches across Wales, for £16.4m.
The Connells Group, which has acquired the business from Principality Building Society, said it was well-placed to build on Peter Alan’s success.
The Connells Group, which is a subsidiary of Skipton Building Society, has already acquired five local estate agency and lettings businesses since the start of the year as part of a programme to expand the group’s network. Peter Alan will continue to trade under its existing brand with the existing managing director Andrew Barry reporting to Connells Group Estate Agency chief executive David Plumtree.
“The Connells Group has very ambitious plans and we are delighted to welcome such a strong business as Peter Alan into our network,” said Mr Plumtree. “We already have a presence in South Wales through our Allen & Harris estate agency branches, as well as our subsidiaries Vibrant Energy Matters and Conveyancing Direct. This latest addition not only strengthens our coverage of the market in Wales but reinforces our commitment to the local economy as we will look to further develop the Peter Alan business.”
DWF acted for the Connells Group in relation to the acquisition, with a team led by Jon Marriott, corporate associate, including Emma Roe, commercial partner, who acted in relation to an outsourcing agreement.