Management buy out secures agency’s growth

A North West-based property agency is investing in its long-term future following a management-led deal backed by regional growth funding.

Regan & Hallworth has completed a management buy out, supported by a six-figure loan from NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II). 

The funding has enabled directors Andrew Herterich and Joel Edgerton to acquire the business and provide additional working capital to support future growth.

They say the investment will provide stability for the agency while creating a platform to strengthen operations and continue serving local property markets across the region.

As part of the deal, long-standing director Amanda Law has retired, with full ownership transferring to Andrew and Joel, both of whom have worked at the company for more than two decades.

Andrew said: “Taking ownership of the business was a natural progression for Joel and I, giving us the opportunity to be the captains of our own ship. 

“Regan & Hallworth is a leading independent estate and lettings agency that has achieved considerable success. 

“We’re now focused on maintaining this success and continuing to work hard to grow the business. 

“Without the support from Steve Molyneux at FW Capital this deal wouldn’t have happened. 

Steve was brilliant, he was on hand to talk to us on a daily basis to ensure the smooth completion.”

Steve, senior investment executive at FW Capital, added: “Regan & Hallworth is a very well-established business that is a market leader in its field locally. 

“We’re excited to back a highly experienced and ambitious management team and look forward to supporting Andrew and Joel’s growth journey moving forward. 

“The MBO is an exciting step forward for the business and the NPIF II investment has assisted this as well as the provision of working capital to support continued growth. 

“Supporting North West businesses to realise their ambitions and drive forward business success is exactly what the NPIF II funding has been created for.”

The estate and lettings agency operates across Wigan, Standish, Leyland, Chorley and Parbold, as well as surrounding areas of West Lancashire. It employs sixteen people and operates from a head office in Wigan alongside branches in Standish and Parbold.

Established in 1996, the Regan & Hallworth was originally founded as a partnership before evolving over time. 

The £660 million Northern Powerhouse Investment Fund II (NPIF II) fund, operated by British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →