Tue, 14 Nov 2023 | MBO/MBI
Hexagon Commercial Property, a commercial property company headquartered in the West Midlands, has been acquired in a management buyout (MBO). The deal sees Harvey Pearson acquire Lex Allan’s shares of the Stourbridge-based firm and he will now lead the company as its managing director.
The company operates across the office, industrial, leisure and retail sectors, working with an array of prominent clients, including Mercia Real Estate, Calthorpe Estates, Western Trading Group, LCP and SEP. The firm’s management portfolio consists of a contracted rent roll exceeding £2 million per annum.
Harvey Pearson joined Lex Allan Commercial as a trainee surveyor in 2013, working with owner Lex Allan. Five years ago, Allan and Pearson went into partnership and the company rebranded as Hexagon Commercial Property.
Lex Allan commented: "In my 30 years of trading under the Lex Allan banner the journey with Harvey has been one of the most exciting chapters.”
"Hexagon has been driven and developed by both Harvey and I, but the fundamental success of the business has been down to Harvey's insatiable appetite to match people and property in a commercial environment where he delivers insight and innovation in equal measure.”
Pearson said that the MBO represents “an exciting next chapter for Hexagon” and that Lex Allan had played a “pivotal part” in building the company. Following the MBO, Pearson said that the business will be moving offices as a result of its ongoing expansion and confirmed that Allan would remain with the business as a consultant post-transaction.
In the wake of the COVID-19 pandemic, MBOs have become an increasingly popular strategy for outgoing business owners seeking a secure, safe exit from their business, while still generating a reasonable valuation from the transaction. Find out more about exiting through an MBO in this dedicated insight:
MBOs come to the fore as owners seek a safe exit
This thriving company offers an extensive array of commercial cleaning and facilities management services, boasting a strong reputation and long-standing relationships with prestigious clients across various sectors. With over 125 in-house cleaning s...
This established distributor of homeware brands offers a unique opportunity to enter the UK, European, and US markets with a focus on wellness and educated-health products.
LEASEHOLD
This long-established butchers in the Peak District offers a robust opportunity for acquisition, serving a loyal client base, including hotels, pubs, and restaurants.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.