UK's largest auctioneer buys VTUK
Oxfordshire-based VTUK have been subsumed by iamproperty in a trade deal that the buyers claim will “modernise the property sector.”
The iamproperty Group, is the UKs largest residential auctioneer and pioneers of the UK’s only end-to-end onboarding and sales progression platform.
The financial aspects remain undisclosed but the deal forms a key part of iamproperty’s continued mission to modernise the property sector and to further develop solutions and services for Estate Agents that have speed and security at their heart.
Solutions support agents drive efficiencies and revenues in their business.
Founded in Oxfordshire, VTUK are a software engineering company for the estate agent market. They offer functionality-rich CRM solutions including Openview, a cloud-based property CRM software platform.
The platform creates a seamless and intuitive experience that enables agents to fully automate their day-to-day operations. The business aligns with the Newcastle-based iamproperty portfolio and creates opportunity for innovation and development for both companies.
VTUK’s founder, Peter Grant, will depart the business following a handover period but the well-established leadership team in place will remain at the helm, headed up by Operations Director Adam Rackham, who has been with the business for over 20 years.
Peter Grant was advised by Ryecroft Glenton Corporate Finance. iamproperty were advised by Muckle LLP, Tait Walker and Clearwater International.
Ben Ridgway, Managing Director at iamproperty Group, said: “We are delighted to be bringing VTUK into the iamproperty Group. Peter has built a business that is well respected in the industry with the support of an established team and we’re really looking forward to working alongside them. This is a great opportunity for our staff and customers, creating synergies that will benefit our mutual Partner Agent Network.”
Peter Grant, founder of VTUK, added: “A great deal of planning and care went into finding the right partner to take the business forward; we have built our product and service portfolio for over 30 years and know this move will create a bright future for VTUK and our team, allowing the company to accelerate with the dynamic support and innovation that is synonymous with iamproperty.”
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