Knights’ Corporate team has assisted Yorkshire estate agent, Manning Stainton, on its acquisition of Lancashire’s largest estate agent, Ryder & Dutton, for an undisclosed sum.
The acquisition will create one of the largest independently-owned estate agency groups in the North of England, with a branch network of over 40 offices across West Yorkshire and East Lancashire.
Both long established brands will be retained but joined together under an umbrella company, the Northern Estate Agencies Group, which will be headed by Manning Stainton’s Managing Director, Mark Manning.
The newly formed group will have a turnover of around £25 million and employ 450 people.
Marcus Armstrong, Partner at Knights commented: “We’re delighted to have supported Mark and the wider Manning Stainton team. This deal sees the combination of two fantastic businesses in the North, and provides a great platform for continued growth. We wish them every success and look forward to seeing what the future holds for the new Group.”
Mark Manning, Manning Stainton’s Managing Director, said: “Strategically, this is a powerful combination, and our senior team is set on delivering our plan to improve and further dominate the estate agency industry in the North. We are grateful for the commercial, focussed and responsive support by Marcus and the Knights team to ensure the deal was delivered smoothly.”