My Property Box secures multi-million pound BGF investment to help it grow

Founded in 2012 by Ben Quaintrell, My Property Box specialises in residential lettings and managing properties across the North East from offices in Darlington and Newcastle, serving both the professional and student markets.

A spokesman said: “In addition to lettings, the company has a strong estate agency arm, delivering residential property sales for customers across the region.

"To drive expansion, My Property Box has made 10 acquisitions since 2019, with the aim of creating a platform of scale in the region. Funding from BGF will support its ambitious ongoing buy and build strategy.”

The deal was led by James Baker, an investor in BGF’s Yorkshire & North East team. As part of the investment, businessman Richard Smith has been named non-executive chair and will join the board at its completion.

The statement added: “Richard brings a wealth of experience in scaling buy and build platforms across various end sectors and will support the team in refining and executing its growth strategy.”

Commenting on the deal, Ben Quaintrell, founder and CEO, said: “The North East lettings market remains fragmented, presenting us with opportunity to capitalise on our successful buy and build strategy.

“To execute this, we needed a long-term investment partner that shared our vision and understood the potential that exists – both in the company and in the market.

"In BGF, we believe we have found this and we’re looking forward to taking our growth plans to the next level with the support of a trusted investor.”

BGF investor James Baker, who will join the My Property Box board, added: “My Property Box has a proven track record of executing its M&A (mergers and acquisitions) strategy, with a clear ambition to scale at pace. It is set to build on this momentum, establishing itself as the residential lettings platform of choice across the North East.

"This is an exciting investment for us and we’re delighted to be joining Ben and the team on the next stage of their growth journey.”

BGF received advice from James Nightingale and Jamie Guy of law firm Ward Hadaway and Toyan Williams of the Tax Advisory Partnership. Management advisers on the deal were Kirsty Adamson and Eleanor Baird from the law firm Weightmans.

This is the latest in a number of significant deals involving BGF.

Last week, Tevalis, the leisure and hospitality electronic point of sale (EPOS) service providers, revealed it had secured an £11.5m investment from BGF.

Headquartered in Hull and with more than 800 customers across 2,000 sites, Tevalis provides EPOS services to help leisure and hospitality operators manage, streamline and deliver their food and beverage operations.

Founded in 2005, by chief executive James Cook, Tevalis has grown organically to record more than £8m in annual sales.

With BGF’s funding, the business has the aim of trebling its recurring revenues over the next three to five years.