Reading: Spectrum advises Stirling Ackroyd on sale of estate agency

Acting as lead advisor, Reading-based Spectrum Corporate Finance has successfully advised Stirling Ackroyd on the sale of the business to Nick Dunning Associates.

Spectrum ran a competitive sales and marketing process which attracted significant interest from industry buyers ranging from publicly listed through to private equity backed parties, before agreeing a sale to Nick Dunning Associates.

Founded in 1987, Stirling Ackroyd is one of London’s best-known agents, with six branches and a lettings book of over 1,400 properties. The firm has built up a strong reputation over the years with a mixed practice of commercial and residential sales and lettings.

Nick Dunning Associates was established in 2016 and since formation has become a major player in the lettings sector through acquisition, funded by a leading private equity investor. They have ambitious growth plans including a programme of investment in Stirling Ackroyd’s branch network, brand and infrastructure, and an expansion programme to grow the business three-fold in three years, via new branch openings and acquisition.

Stephen Wilson, managing director of Stirling Ackroyd, commented: “We engaged Spectrum due to their excellent reputation for dealing in business sales and undoubtedly their professionalism and market presence enabled us to obtain the best possible outcome. The transaction was extremely complex due to the numerous stakeholders involved, but Spectrum – with James Mines taking the lead - were able to navigate us through the entire process to a highly satisfactory conclusion. I would certainly recommend them for work of this nature."

James Mines, director at Spectrum Corporate Finance, commented: “Stirling Ackroyd is an established brand with a strong heritage and an excellent reputation in the sector. These characteristics, combined with the strong management team led by Steve, ensured we received a significant amount of interest for the business.

"It has been a pleasure to work with Steve and the team, and we look forward to seeing them deliver their ambitious growth plans under the new ownership of Nick Dunning.”