Management buyout at Landwood Group
James Ashworth, Mark Bailey, Helen Jude, Kate Lay, and Richard Parkinson are now the sole owners of the company as the business prepares to double in size over the next five years.
Landwood Group is made up of chartered surveyors, project managers, auctioneers, and asset managers, and was founded in 2008 by Bailey and Parkinson.
The two sold the company in 2019 to Denbighshire-based MRA Professional Services Group.
Now, they have reclaimed ownership alongside three other directors, purchasing MRA’s shares in the company. All five are now partners in the company.
“The economy and industry is experiencing drastic changes and is demanding more from the property sector than ever before,” Bailey said. “This purchase represents an exciting opportunity for the management team to be at the forefront of driving the changes within the business that the industry needs.”
Bailey described the next chapter for Landwood: “We are very much in growth mode – both building within the markets in which we currently operate and growing into new service areas.
“It has been a pleasure working alongside MRA Professional Services for the last 4.5 years and I thank them for their support during that time,” Bailey continued.
“However, we are now focussed on a future that builds on the strength and depth of our team, of whom we are incredibly proud and will be looking to recruit into new areas to support these plans.”
The management buyout was conducted with the corporate finance advice of MHA Moore & Smalley’s Ian Waddingham, Andy Feeke, and James Smith. TLT’s Rick Life and Kevin Howard also advised Landwood Group.
Waddingham said he was “proud” to have supported the management buy-out, saying the company has “exciting plans for growth.”
He added: “I look forward to seeing [the directors] take the business forward on the next stage of the journey.”
The management buyout is not the only major change for Landwood Group this year – the company merged with fellow chartered surveyor Wignall Brownlow in March.
