Northeastern Entrepreneur Completes MBO on ‘Luxury’ International Real Estate Business
An entrepreneur from the Northeast has announced that she has finalized the takeover by the management of the real estate branch of a luxury concierge company.
Quintessentially Estates, which buys, sells, leases and manages luxury properties globally on behalf of high net worth individuals, has been the subject of a takeover by its CEO, Penny Mosgrove.
Under Penny’s ownership, Quintessentially Estates will continue to work closely with the Quintessentially Group and its list of exclusive clients.
The transaction, which closed for an undisclosed amount, was led by Williams Ali Corporate Finance and Square One Law.
Penny commented, “This is a natural progression for our business that will allow Quintessentially Estates to focus on delivering a first class experience to our customers from all of our offices across the globe, while continuing to to be part of the Quintessentially “family”.
“This is a great deal for everyone involved and the support of exceptional advisors has been essential to make it happen.”
Phil Williams, Partner at Williams Ali, said: “We were delighted to work with Penny and Quintessentially to complete a transaction.
“This agreement helps the group in its continued strategy and creates an exciting platform for the Estates business to grow and prosper across its global network.”
Mark Lazenby, Corporate Head of Square One Law, added: “We are delighted to have supported Penny in this transaction.
“It seems like a natural fit for all parties, allowing them to benefit from an ongoing collaboration and for Penny to continue her dynamic leadership of Quintessentially Estates, but now under her sole stewardship. We look forward to seeing how the business develops in the future.
Darren Ellis, CEO of Quintessentially Group, said: “This agreement represents an important step in Quintessentially’s strategy as we simplify and improve our corporate structures, in this case through a licensing agreement.
“The ‘Estates’ brand will continue to be an important part of the Quintessentially portfolio and I look forward to seeing the business flourish under Penny’s ownership.”
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