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Deal makers remain busy as Browne Jacobson advises on the Newton Fallowell acquisition for Belvoir Lettings

20 July 2013

There is an encouraging upturn in mid-market M&A activity according to corporate finance lawyers at Browne Jacobson who have completed a spate of acquisitions and investment deals in the last two weeks.

Recent research from Experian show the firm acted on 17 deals across the Midlands in the first half of 2015, making it the second most active corporate finance legal advisory firm in the region.

The latest is the proposed acquisition of East Midlands based Newton Fallowell Limited for Belvoir Lettings plc for £6.38 million.

The deal to acquire Newton Fallowell Limited will add a further 31 property sales and lettings branches outlets to Belvoir Lettings’ existing portfolio.

Headquartered in Grantham, Newton Fallowell was established in 1999 is one of the largest estate and letting agencies in the East Midlands with branches across Burton on Trent, Boston, Leicester and Retford. 

AIM listed Belvoir Lettings plc was founded in 1995 by Mike and Stephanie Goddard and is one of the largest specialist lettings agency franchises in the UK, with 162 outlets nationwide.

The Browne Jacobson team was led by corporate finance partner Mark Hughes, assisted by Mike Jackson, Kevin Jones and Christina O’Brien. Other advisers to Belvoir included John Sykes of Skye Corporate Finance.

This latest deal follows a spate of acquisitions Browne Jacobson’s award winning corporate finance team  have completed in recent weeks  including advising Gallagher Bassett International (GBI) on its acquisition of CAA (Countrywide Accident Assistance Limited) and Cursor Controls Limited on securing £4.5 million equity investment from Maven Capital Partners.

Mark Hughes said:

“We have seen a sustained level of deal activity in recent weeks, particularly across the mid-market arena.

 “Belvoir are a relatively new client for the firm and we are delighted to have acted for them on such a strategically important deal within a relatively short period of time.”

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