SME Capital is delighted to be providing Paul Carr Estate Agents with a recent bespoke funding package to support the business in a Management Buyout.
Paul Carr Estate Agents is the largest independent property services business in the West Midlands, with strategically located branches covering North Birmingham, Sutton Coldfield, South Staffordshire and North Warwickshire. Operating in the region for over 40 years, they are a well-known and highly respected name when it comes to selling or buying a home.
With 14 sales offices, a Land & New Homes division together with Exclusive and Rural Homes, auctions, mortgages and other support services, they can service all aspects of a house sale or purchase.
The Management Buyout was led by Managing Director, David Alexander, who has worked in the business for over 10 years and is a distinguished property expert having operated in the industry for over 35 years.
SME Capital has agreed to provide a 5-year term bespoke funding structure to support the MBO.
Commenting on the arrangement, Managing Director for Paul Carr Estate Agents, David Alexander, said “I am hugely excited for what the future holds for this business. Having been emotionally invested for such a long time, it was a natural progression to take on this role as Paul Carr himself chooses to step down.“
SME Capital Regional Director for the West Midlands, Mike Millington, added “Having lived and worked in the West Midlands most of my life, Paul Carr Estate Agents is well known to me and when we had the opportunity to work with David and his team on the MBO we jumped at the chance.”
“It’s been a great pleasure to work so closely with David and his advisors at BKplus, Shaun Knight, Ed Hill and Tom Phillips, together with Mark Gibson at DWF Law. From the start they were clear on their objectives not only for the MBO but also the impressive future plans. Noting the clarity of their vision supported by a robust business plan, we were delighted to provide a facility that meet those objectives fully.”
“Paul Carr Estate Agents is known for their quality of service and client focus. Under David and his team’s ownership that will undoubtedly continue, and they will go from strength to strength. We are proud to have played a part in their exciting journey.”
Shaun Knight, Ed Hill and Tom Philips at BKplus Accountants and Mark Gibson at DWF Law LLP provided advisory and legal support for Paul Carr Estate Agents with Ben Slack of Clarion Solicitors provided legal representation for SME Capital.
SME Capital was founded to support the growing number of SMEs who face difficulty or frustration in accessing capital through traditional methods. We understand the importance of real and trusted relationships in the SME lending market and have dedicated Regional Directors based across the UK. By combining traditional lending expertise with the latest in data analytics, we are supporting established UK SMEs with their long-term objectives and business ambitions.
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