Principle Estate Management is spreading its national reach further following the acquisition of a Lancashire-based block management company.
Following Principle’s purchase of Myhill Newman in London in March 2022, the acquisition of FMS Estate Management Ltd in Poulton-le-Fylde marks the next stage in the company’s continuing growth.
Since its launch in Birmingham in April 2018, the business has grown from founder Brett Williams to now more than 65 staff who manage almost 20,000 units across the UK with this latest acquisition.
The purchase of FMS Estate Management Ltd adds 1,300 units across more than 30 properties, mainly in the north west of England.
Brett said: “Darien Jay, the owner of FMS Estate Management Ltd, is a well-known figure in the north west of England, particularly in property services. We are very pleased to have reached agreement with him on the transfer of all properties under management across to Principle.
“This gives us even greater reach across the UK and we look forward to using this latest chapter in our expansion as a springboard into further new business in the north west.”
He said that alongside continuing organic growth, largely based on reputation and recommendations, Principle was still actively seeking to acquire similarly sized businesses in the estate management sector.
Dominic Green at law firm GS Verde in Cardiff advised FMS Estate Management Ltd, and Kate Hackett at Wilkes in Birmingham acted for Principle.
Launched in 2018, Principle now has more than 65 staff looking after a portfolio of nearly 20,000 units at around 400 developments across the UK.