The Property Franchise Group

Canaccord Genuity acts as Financial Adviser to TPFG on its recommended all-share merger with Belvoir Group PLC

Canaccord Genuity is pleased to announce it has acted as Financial Adviser to The Property Franchise Group PLC (“TPFG”) on its recommended all-share merger with Belvoir Group PLC (“Belvoir”). 

The combined group will benefit from increased scale with more than 930 property franchise locations, managing approximately 152,000 tenanted properties across the UK and will be expected to sell more than 28,000 properties per annum. For the financial year ended 31 December 2022, TPFG and Belvoir together generated in excess of £60 million in combined revenue (of which approximately 41 per cent. was recurring), with management service fees of approximately £27 million and adjusted EBITDA of approximately £22.5 million.

Following completion, Belvoir shareholders will hold approximately 48.25 per cent. and TPFG shareholders will hold approximately 51.75 per cent. of the enlarged issued share capital of TPFG.

Canaccord Genuity has acted as Financial Adviser, Nominated Adviser and Broker to TPFG since August 2021.