UK-based Romans Group and its management team have been backed by private equity group Bowmark Capital. Stevens & Bolton was appointed as legal adviser. Romans Group provides a comprehensive range of estate agency, lettings agency and associated property services to buyers, sellers, landlords and tenants.
Law firm Stevens & Bolton LLP has advised Romans Group and its management team on its management buyout, backed by private equity group Bowmark Capital, at a valuation in excess of £50 million.
Founded in 1987, Romans has grown from a single site in Bracknell to a network of 18 branches across Berkshire, North Hampshire and Surrey and a staff of around 450. It provides a comprehensive range of estate agency, lettings agency and associated property services to buyers, sellers, landlords and tenants and has won The Sunday Times Estate Agency of the Year awards in the past 2 years. Stevens & Bolton were appointed to act as its legal adviser on the MBO following a competitive pitch process in June, which Stevens & Bolton won ahead of some top international City of London based firms.
Ken Woffenden, Managing Partner of Stevens & Bolton, commented: “It was a pleasure to work with Romans Group, its management team and Bowmark Capital to pull this significant deal together. We were delighted to be involved in such a high profile buyout in the property services sector and we are looking forward to continuing our relationship with Romans Group going forward.”
Peter Coles, Romans Group Managing Director, added: “This was a complex transaction which had to be delivered in a very tight timetable. We selected Stevens & Bolton as our legal advisers ahead of some big City firms, because they showed a real interest in our business and a strong practical understanding of the challenges faced by the management team. Their performance was outstanding. They played a key role in guiding us through the whole process with minimal fuss or disruption to the day to day running of the business.”
The Stevens & Bolton team was led by Ken Woffenden (Managing Partner) and Keith Syson (Head of Corporate and Commercial) and also included Mark Smith and Bethany Sheen (corporate), Kate Schmit and Deepash Patel (tax), Jonathan Foulds (real estate) and Kerry Garcia (employment).
SJ Berwin advised Bowmark Capital.
Notes to the editor
Stevens & Bolton LLP
Stevens & Bolton LLP is a leading law firm, based in Guildford, with a national and international practice. The firm has 37 partners and over 110 lawyers (in total over 170 people). It provides a high quality service to clients in both the business and private sectors. It was shortlisted for the “National/regional law firm of the year” award at The Lawyer Awards 2011, the British Legal Awards 2012 and the Legal Business Awards 2013.
The firm is recommended in 24 individual practice areas by The Legal 500 and Chambers UK directories.
Stevens & Bolton LLP offers the following legal services: banking, corporate finance, commercial, real estate, dispute resolution, planning & environment, construction, debt recovery, competition, employment, pensions, immigration, family, insolvency, IT, intellectual property, insurance, tax and trusts, charities, residential property and wills & probate.
For further information please contact:
Beth Farrer, Farrer Kane
Tel: 020 7947 4173
Ken Woffenden, Stevens & Bolton LLP
Tel: 01483 401260
Mob: +44 (0) 7795 203 181
81 Rivington Street, Shoreditch, London, EC2A 3AY