Thames Valley: Spectrum advises Finders Keepers on sale to Countrywide

Reading-based Spectrum Corporate Finance (Spectrum) has advised Finders Keepers and its shareholders on the sale of the company to Countrywide plc, the UK's largest estate-agency and property-services group.

Spectrum structured the deal, and project managed the process through to a successful completion in just two months. The competitive sale process run by Spectrum enabled the shareholders to achieve a substantial increase in the consideration.

Founded in 1972 by Mary Channer, and then led by her son Dan Channer, Finders Keepers was an independent, family-run, property letting and management agent with eight offices across Oxfordshire. Originally set up as an acquisition service, Finders Keepers soon became Oxford’s leading lettings agent. Now employing 118 people and with over 3,800 live tenancies, the company has won various awards.

Countrywide is the UK's largest property-services group, serving customers in 1,500 locations across more than 50 brands. With unparalleled coverage of the UK property market, Countrywide specialises in both the residential and commercial-property markets and employs more than 12,000 people.

The acquisition will establish Countrywide as the largest lettings provider in Oxford.

Clive Hatchard, managing director of Spectrum, said: “The quality of the Finders Keepers business ensured this was a fiercely competitive sales process. Confidentiality and speed were vitally important to the shareholders and Spectrum dedicated the necessary resources to complete within two months of heads of terms. Countrywide, with similar brands such as John D Wood & Co and Hamptons is a perfect fit for the business and I am sure will develop the company further.”

Dan Channer, MD of Finders Keepers, said of Spectrum’s advising: "Clive and Bilal ran an incredibly professional process which laid the foundation for the successful outcome.”