Built environment Transaction services

Acquisition of Spencers by Portico

26 January 2017

Moore Kingston Smith advised on due diligence for Portico acquisition of estate agent Spencers

Moore Kingston Smith Corporate Finance is pleased to have provided financial due diligence and advisory services to London estate agent Portico on the successful acquisition of Spencers. The transaction was funded by Clydesdale Bank.

Spencers is an estate agent comprising eight branches located across East London. Its acquisition represents a significant development in Portico’s strategic expansion plans, taking their total number of offices to 20, with around 200 employees.

Robert Nichols, Managing Director of Portico, said: “ Moore Kingston Smith Corporate Finance team were a pleasure to work with and carried out our due diligence requirements quickly and efficiently. Their taxation expertise proved particularly useful over the course of the transaction.”

Matthew Meadows, Corporate Finance partner at Moore Kingston Smith, commented: “We are delighted to have supported Portico in this substantial acquisition that supports their future growth plans. Robert was very open to our commercial advice, as well as our assessment of Spencers’ financial position, its future prospects and forecasts.”