The Corporate Finance team of Cowgill Holloway have been working with Manchester based WHR since March 2015. The team carried out a detailed shareholder review evaluating the objective of the shareholders, current valuation and target valuation. This allowed them to develop their exit strategy.
Avison Young first approached WHR in the summer of 2016 with reference to acquiring the business. Ian Johnson, Corporate Finance Partner at Cowgill Holloway, advised the WHR members on the deal, completing in October this year.
Avison Young a Canadian-headquartered firm are currently following an aggressive growth and expansion strategy. The acquisition of WHR brings Avison Young’s office count to 5 in the UK and 11 in Europe, after purchasing property businesses in the Midlands, London, and now Manchester. Following the deal, WHR will be rebranded to Avison Young, and Mark Williams, Gareth Buckley, Mike Rooney and Dan Crossley will become AY Principals.
Mark Williams will become Managing Director of the Manchester office, and speaking about the recent deal he said, “While we are proud of WHR’s achievements and growth to date, we do recognise that the future growth of the business will require a stronger national and, importantly, international brand.”
Ian Johnson of Cowgill Holloway comments, “This is a great transaction for both businesses and we are delighted to have been successful in assisting in the negotiation of this deal. The WHR team are a very well-respected member of the Manchester property community. Combining the experience of the management team, with the resources of AY is a fantastic move for both businesses and we’re sure they’ll build on the success that WHR has had over the last 13 years.”
Disclaimer
The information was correct at time of publishing but may now be out of date.
