BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Property due diligence firm sold at 30x profits

Property due diligence firm sold at 30x profits

Thu, 08 Jul 2021 | BUSINESS SALE

Property due diligence firm sold at 30x profits

Property due diligence firm TM Group has been sold for £91.5 million, around a 30x multiple of the company’s most recently reported post-tax profits of £3.073 million. The deal has seen Connells and LSL sell their respective stakes in the firm to Canadian-headquartered Dye & Durham, which provides cloud-based software and tech solutions for legal and business clients.

TM Group was founded in 1999 and provides technology-enabled products designed for use in residential and commercial real estate due diligence, including its sales progression tool Mio. The company operates across England, Scotland and Wales, with clients including conveyancers and law firms.

The sale to Dye & Durham sees Connells generate £58.7 million on its 64.58 per cent majority shareholding, while LSL generates £29.3 million from the disposal of its 32.34 per cent stake. LSL says it will deploy the sale proceeds into opportunities to accelerate its growth strategy.

Connells CEO David Livesey, who is also TM Group’s outgoing Chairman, commented: “We are proud of the business that we built and which is set for further development under the ownership of Dye & Durham.”

“They are the ideal acquirer for TM, enabling it to evolve as part of a global operation and providing a good fit alongside the stable of specialist businesses that they are assembling. We are excited for the future of TM Group, wishing the team ongoing success, and look forward to continuing our partnership with them as customers for the long term.”

Dye & Durham Chief Executive Matt Proud said: "We are pleased to be announcing this latest acquisition as it allows us to further scale our business in the UK and deliver top-tier solutions to the property conveyancing market participants who rely on our technology for their day-to-day activities."

In its most recent reports at Companies House, TM Group reported pre-tax profits of £4.2 million on turnover of £57 million for the year ended December 31 2020. At the time, the company’s net assets stood at £4.9 million.


Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

HR Consultancy Practice
UK Wide

An outsourced employment law and HR specialist offering a comprehensive range of services for clients throughout the UK.

Asking Price: Offers Invited
Turnover: £500,000

LEASEHOLD


Consultancy Specialising in Design Management & Project Controls
UK Wide

A specialist consultancy providing project controls/planning, design management and workflow optimisation support for clients across the UK, the USA and the EU. The company’s comprehensive service offering helps clients plan, manage and control th...

Asking Price: Offers Invited
Turnover: £2,600,000

LEASEHOLD


Provider of Specialist Documentation to the Construction Industry
UK Wide

The company specialises in the authoring and compilation of record and handover documentation for buildings, which it delivers via its own in-house developed web-based software platform, electronically, and high-quality hard copy. Priding itself o...

Asking Price: Offers Invited
Turnover: £1,100,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
27
 
Jan
 

Administrators to sell assets as office furniture maker collapses | ADMINISTRATION

Bluespot Furniture, a West Yorkshire-based furniture manufac...

 
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...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
27
 
Jul
 

STM acquires Mercer’s SSIP and SSAS businesses in £3.3m deal | BUSINESS SALE

Financial services provider STM Group has agreed to acquire ...

 
10
 
Nov
 

Countrywide closes branches as administration looms | ADMINISTRATION

A number of branches of the Countrywide estate agency chain ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.