According to the group, the acquisition brings together two complementary businesses, provides long term financial stability for Countrywide and frees it from external debt.
Connells Group has completed the acquisition of Countrywide.
According to the group, the acquisition brings together two complementary businesses, provides long term financial stability for Countrywide and frees it from external debt.
The deal will see Countrywide continue to operate in the same way, trading under its existing brand and maintain its branch network, with Connells Group delivering investment into technology and people to improve its service offerings.
Countrywide will keep its surveying and asset management businesses continuing to trade and operate as separate entities to provide choice and competition in these sectors.
It will also become part of an enlarged group providing exciting career opportunities for all colleagues and the potential to attract the best talent in the industry.
David Livesey, group chief executive of Connells, said: “The combined group will see talented management from both companies come together and be responsible for the day-to-day operation of Countrywide and deliver the integration activity to drive a rapid turnaround of the business.
“As announced last November, Paul Creffield will be moving to a part time role to support during this transitional period, ahead of his planned retirement.
“This is an extraordinary day in the proud history of both companies, bringing together a formidable team of property professionals to create the most successful business seen in our sector.
“Our companies have a long, shared history, competing healthily on the high street and in the industry, and sharing many of the same attributes – a clear strategy to be market leader, to move the property industry forward and to keep our customers and clients at the heart of our activities.
“We look forward to welcoming all our new colleagues into Connells Group, working together on our exciting future and turning Countrywide around for our shared success.”
