Smith & Williamson advises Faraday Property Management Limited (“Faraday”) on its sale to HML Holdings Plc (“HML”)
Faraday was founded in 2006 to provide block management and surveying services in the central London area and has since grown to become one of London’s most successful property management businesses.
Working out of its High Holborn offices, Faraday provides a professionally qualified service in property management, chartered building surveying and insurance brokerage with a focus on high value private residential properties.
Today, Faraday manages over 4,000 residential units across 72 estates and blocks of flats. Faraday has been acquired by HML, a leading provider of property management, surveying, insurance and ancillary services to residential property blocks listed on LSE-AIM. HML welcomes Faraday’s focus on high value properties and its excellent provision of building surveying services to the Group. The board and senior management team of Faraday will all remain with the business continuing to operate from its offices in Holborn.
The transaction was led by Jim Clark, Director at Smith & Williamson Corporate Finance, assisted by Daniel Hart.
Daniel Coupland, CEO of Faraday said “It was a great comfort to have Jim and the team’s advice and guidance throughout the transaction. The level of experience and expertise we had supporting us made the whole process far easier than we anticipated.”
Rob Plumb, HML’s CEO said “We are confident that the business will continue to prosper with a business strategy and culture that is entirely compatible with ours and achieve an admirable and consistent return for its shareholders.”
Jim Clark said “We are delighted to have assisted the shareholders of Faraday to find a partner in HML that is keen to support the current management team in expanding the business through its next phase of growth.”
This is the 6th transaction that Smith & Williamson Corporate Finance has completed in building services in the last few years, building upon the team’s expertise within that sector.
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
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