Fri, 13 Jan 2023 | BUSINESS NEWS
Surrey-headquartered lettings agency Stirling Ackroyd Group has said it will target further M&A activity during 2023 after reporting that its revenue increased 20 per cent last year. During 2022, the company acquired three property firms in London and the South East, as well as opening five new sales and lettings offices.
The firms acquired by the company last year included Red Bear Property Management, Castle Estates and Hamilton Chess, all of which have since rebranded as Stirling Ackroyd. During 2023, the business says it plans to make a similar number of acquisitions.
Last year, the company opened sales offices in Canary Wharf, Earlsfield and Nine Elms in London, a sales and lettings office in Byfleet and a lettings office in Englefield Green. The company plans to open further sales and lettings offices in London and the South East this year.
Stirling Ackroyd has not yet announced its figures for 2022, but during 2021 its turnover was £22.5 million, with the reported 20 per cent growth indicating that revenue likely increased to around £27 million last year. In 2021, the company reported gross profit of £7.8 million and post-tax profits of slightly over £0.5 million.
Nick Dunning, Chief Executive of Stirling Ackroyd, commented: "We have been focused on building a fast-growing and profitable business where people are proud to work and where we deliver excellent customer service year after year. As we continue our growth trajectory, we will continue to do so with our people, our clients and our partners at the heart of what we do."
Regarding the firm’s plans for this year, Dunning added: "2023 will be another big year for us as we look to grow organically and through acquisition, and as we maximise the synergies and revenue opportunities with our new homes, commercial and surveying teams."
Nick Dunning Associates assumed management of Stirling Ackroyd in 2017 and the agency says it has grown exponentially since then, acquiring over 20 sales and lettings firms over the past five years and growing to 35 offices and over 420 employees. The company also successfully added commercial, surveying and new homes divisions during that time.
Find businesses for sale here.
If you are looking for an exit, we can help!.
The company offers personalised services to a growing client base, ensuring all art mounting, conservation and restoration requirements are met by a team of highly skilled specialists. Serving museums, galleries, Government departments and private co...
LEASEHOLD
The company operates as a supplier, installer and maintainer of a range of security solutions, including Intruder, Access Control, CCTV and Warden Call Systems. The business currently provides its services to 2,000 active clients, approximately 80% o...
FREEHOLD
Niche contractor to gas network operators. Services include purge and relights and meter relocation. £625,000 average adjusted EBITDA.
LEASEHOLD
26
|
Jan
|
UK M&A down 16 per cent in 2022, but sentiment remains optimistic | BUSINESS NEWS
New analysis from PwC has revealed that UK M&A activity decl...
26
|
Jan
|
Private equity-backed law firm targeting further M&A in 2023 | BUSINESS NEWS
Stowe Family Law, a Leeds-headquartered specialist family la...
25
|
Jan
|
Eastbourne seafront hotel on the market for £2.3m | COMMERCIAL PROPERTY
The Eastbourne Riviera Hotel, located on the town’s po...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources