BGF-backed Shepherd Direct acquires CPBigwood

The acquisition follows a recent £20m investment in Shepherd Direct from BGF alongside the company's private investors and Yorkshire Bank in June 2015. BGF provided a £10m investment.

The fresh cash was immediately put to work through Shepherd Direct's acquisition of a minority stake in Stonebridge Mortgage Solutions, an Essex-based independent mortgage broker.

Company
Established in 1854, CPBigwood is a property consultancy business, specialising in auctions, and residential and commercial sales and lettings, as well as property management services. The company is headquartered in Birmingham and operates further offices in London, Stratford-upon-Avon, Loughborough and Southampton.

Nottingham-based Shepherd Direct was founded in 1989 and provides property related services including surveys, valuations and lettings, as well as mortgage broking.

The combined group expects to generate turnover of £60m per year, employing 400 staff.

People
BGF - Ian Downing; Gurinder Sunner; Aaron Baker.

Advisers
Equity – Browne Jacobson, Mark Hughes, Paul McCannah, Beth Dowson, Sandra Wong, Paul Ray, Chereta Edmeade (Legal).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• BGF (Business Growth Fund)
• Build-up
• Acquisition finance