Two national property agencies have joined forces to form a new group with a £41 million annual turnover and more than 25 offices around the 海角视频.
Property consultancy Fisher German has acquired Vine Property Management following 12 months of negotiations.
Vine will be renamed under the Fisher German banner from the start of next year.
Fisher German, which is based in Ashby, north west Leicestershire, specialises in commercial, rural and residential property as well as development, utilities and sustainable energy.
Its turnover has grown from £19 million to £35 million in six years.
Since 2000 it has grown organically as well as through mergers with nine other property consultancies.
It employs around 500 staff at 16 offices organised into eight regional teams.
Vine Property Management, which is 25 years old, manages 7,000 individual units covering 51 million sq ft of retail, industrial and office property, with a combined value of £2.7 billion.
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Its co-founder James Rigby will join Fisher German as a partner and all 10 offices and 100 staff will be retained.
Leicester Business News
Andrew Bridge, managing partner of Fisher German, said both firms shared the same principles.
He said: “We have been looking to grow Fisher German and to further expand our presence in the commercial sector, and Vine Property Management will not only bring a proven track record and new disciplines to expand our current commercial offering but will also take us into new geographical areas allowing for further growth.
“From that commercial point of view, it is a perfect fit but it soon became clear as we advanced talks that the two companies share a belief in ethos, values and levels of customer care which only adds to the strength of the new group.”
Vine, whose management portfolio has an annual rent roll of more than £220 million and includes more than 500 service charge schemes, is headquartered in Birmingham and has offices in Scotland, Wales, the North West, North East, South East and on the south coast.
James Rigby said: “We have watched the impressive sustained growth of Fisher German over recent years and believe by coming together we will equal more than the sum of our parts.
“The merger will mean we can offer a whole new range of services to existing clients of both companies, and also attract fresh clients with an expanded expertise in new areas.
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“We are very excited to have found a perfect partner both in terms of the services we offer, but also the common approach in the way we work with, and for, clients.”
Springboard Corporate Finance, in Birmingham, accountants Cooper Parry, headquartered in Castle Donington, and law firm Browne Jacobson acted as advisors on the transaction.