Ocean
FRP are pleased to have successfully advised on the sale of Ocean Property Services Group, an award-winning independent estate agency in Bristol and North Somerset, to Lomond, one of the UK’s largest networks of lettings and sales agents.
Founded in 1983 by Paul Harris, Ocean has grown from a single branch into a regional leader. Today, operating out of 12 branches across Bristol and the surrounding area Ocean provides a full service offering spanning residential sales, lettings, conveyancing, property management and financial services.
FRPs Corporate Finance team acted as lead adviser to Ocean on the sale. The team prepared the business for sale, identifying Lomond as the ideal partner and led on all commercial negotiations through to a successful completion.
The deal will see Founder Paul Harris exit the business, leaving it well positioned for its next phase of growth with Lomond providing the platform to build on its strong brand, deep local roots and service-led approach.
For Lomond, the acquisition will enable it to build out its presence in the west. This represents another significant milestone in Lomond’s strategic expansion plan, which has seen it make more than 70 acquisitions across the UK.
Project Brunel – N-Able
We are pleased to have advised award winning sustainability focused architectural and property consultancy business, N-Able Group, (N-Able) on its sale to RSK Group.
Headquartered in London, N-Able is a one stop shop for design and construction services, specialising in the delivery of low energy, low environmental impact buildings. It comprises of two award-winning companies, ECD Architects an architecture firm providing sustainable building design in England and Scotland, and Keegans, a building consultancy specialising in retrofit, building and fire safety.
The 110- strong N-Able group, which also has offices in Glasgow and Preston, approached FRP Corporate Finance because of our proven reputation delivering positive results for consultancy businesses serving the built environment sector.
Our Bristol team, led by Partner Mark Naughton, Associate Director Freddie James and Manager Kush Kunwar, worked to help prepare the business for sale, create marketing materials, and identify and approach buyers – with a focus on ensuring any suitor aligned with N-Able’s core commitment to sustainability.
RSK Group stood out as sharing N-Able’s vision and values, and we led negotiations on price, structure and working capital considerations to maximise value for the shareholders and managing the deal through to completion.
Project Lancastrian – Trust Property Management Group
International property services group, PHM Group, is set to acquire UK-based Trust Property Management Group (Trust Group), in a deal led by FRP Corporate Finance.
Established in 2006, the Trust Group operate in the London metropolitan area and specialise in the management of residential properties and other expert services in the field of property management. Over the years, the company has successfully built a client portfolio consisting of high-value properties within premium postcodes in Central London and surrounding areas. Trust Group now manages more than 11,000 homes across the country, with a team of 59 office-based staff and 91 site based staff.
Headquartered in Finland, PHM Group has seen strong growth in European countries in recent years, first expanding outside the Nordic countries into Germany in 2022, then extending into the Swiss market in 2024. The acquisition of Trust Group expands operations into the UK and provides a platform to build a full-service residential property company in the UK market.
The acquisition includes the Group’s subsidiaries Trust Property Management, Fresh Property Management, Nightingale Chancellors, Dexter Brown, and Skylon Chartered Surveyors. As part of PHM Group, Trust’s business will continue as usual. The transaction is expected to be completed by July 2025 and is contingent on the approval of the UK Financial Conduct Authority (FCA).
Our Corporate Finance team were appointed sell-side advisers to the shareholders of Trust Property Management Group based on the team’s strong credentials, experience and reputation within the property management sector.
Project Winchester – Chancellors
Chancellors Group Holdings Limited (Chancellors), has been acquired by LRG (previously Leaders Romans Group), in a deal supported by our Corporate Finance team, which marks LRG’s largest acquisition to date.
Chancellors is a leading independent estate agency business operating in 50+ locations across West London, Berkshire, Hampshire, Oxfordshire, Wiltshire, Worcestershire, Herefordshire and Mid Wales, supported by 480 strong team of experts.
A prominent name in the UK property market, Chancellors was founded in 1807 by James Cain. The independently run business has expanded significantly, and offers a comprehensive suite of services, including residential sales, lettings and new homes. With a strong presence across the Home Counties and beyond, Chancellors supports a wide range of clients, from first-time buyers and experienced investors to landlords and tenants.
Our Corporate Finance team, led by Partner Bilal Hasan and supported by Senior Manager Nick Wright was appointed by the shareholders to advise on its sale based on the team’s strong sector credentials. Our team conducted a full sales process including leading discussions with potential buyers, managing negotiations, and guiding all stakeholders through the process to completion.
Chancellor’s acquisition significantly expands LRG’s reach in existing and new markets, fuelling its ongoing growth strategy. Notably, this acquisition establishes LRG’s presence in Mid Wales, Herefordshire, South Oxfordshire, and the Cotswolds, regions where it previously had no representation. The Chancellors brand will be retained due to its strong local heritage and Robert Scott-Lee, Managing Director at Chancellors, will continue as a consultant during the transition, ensuring a smooth handover.