Heritage brand property consultancy, Cluttons LLP, yesterday announced the completion of a Management Buy Out which marks the next phase of growth and the conclusion of six years of Rcapital ownership.
The move has been completed alongside long-term private equity investor and industry specialists, TREUN Capital. Managing Partner James Gray remains as Chief Executive Officer alongside incumbent Chief Financial Officer, Nicholas Potter, and John Gravett is newly appointed Managing Director.
Joining the leadership team will be Alan Froggatt, former Chief Executive for Europe at CBRE, appointed Non-Executive Chair of the Board with Catherine Spitzer, former Managing Director of Bidwells, also appointed as a Non-Executive Director. Their extensive contacts and collective experience of growth and organisational development bring extra insight and opportunities to Cluttons.
During the six years of Rcapital ownership, Cluttons completed a substantial change programme to modernise the entire business. The successful transformation enhanced the business, achieved significant organic growth and strengthened Cluttons market position and geographic reach. The Cluttons turnaround and transformation was recognised by the IFT’s prestigious, Mid-Market Turnaround of the Year Award, earlier this year.
“The completion of the Management Buyout (MBO) ensures Cluttons is well-positioned for future growth and success. This experienced leadership team, alongside its new and extended board, will capitalise on new opportunities, ensuring the agility needed for sustained excellence in the real estate sector. Cluttons has been a cornerstone in the Rcapital portfolio over the last six years, and we have thoroughly enjoyed working with James and the team. We wish them every success for the future.” Commented Phil Emmerson, Partner, Rcapital.
“This transaction marks the next exciting milestone of Cluttons’ growth story. Our focus will continue to be; creating value for our clients, attracting, and retaining talent and expanding our UK geographic reach.” Concluded James Gray, CEO of Cluttons.
Cluttons LLP received legal advice from Pinsent Masons, corporate financial advice from Ulmus Advisory, and advice on tax matters from RJP. TREUN Capital received legal advice from Shoosmiths and financial advice from HMT.