Leeds-based national property consultant Eddisons has strengthened its property auctions division with all the getting great britain’s largest auction house outside London, North West-based Pugh & Co, for any initial 2 million cash sum.
Established in 1991, 2 million turnover firm Pugh & Co came under the control of managing director Paul Thompson in 2014 as he bought out the remainder of the 50 % stake in the field. Hosting auctions in Leeds and Manchester, Pugh & Co offer more lots available than any commercial ah not in the capital.
The acquisition might find Eddisons’ auction division and Pugh & Co, who together sold over 100 million of property at auction not too long ago, run monthly auctions in Leeds and Manchester beneath the Pugh brand, which includes a combined team of 36 staff led by Thompson.
Eddisons Md Richard Roe said: “Pugh & Co is a great fit for Eddisons’ own property auctions division and together now we have the proportions to operate the largest commercial property, residential property and land auctions in the North.
“The public attention towards auctions to be a speedy, transparent and reliable approach to investing property keeps increasing and also this acquisition, of the successful and highly respected auctions business, has to be massive boost to Eddisons’ capability in this field.”
Paul Thompson, Md of Pugh & Co, said: “It’s nice thing that our firm is actually section of Eddisons. Combining our strengths will enable us to consider an unrivalled plan to clients, through an excellent geographic spread and depth of professional experience and expertise.”
The total deal value could reach 4.6 000 0000 in the event the combined business achieves stretching financial targets in the next incomes.
