Propencity is a main contractor and property developer with strong regional brands, Totty, Jackson and Dean & Bowes. The business is headquartered in Bradford.

The business was a non core part of Peterhouse Group plc which had moved its focus away from contracting and into support services. Park Place worked with the management team of Propencity to create an MBO proposal and secure support from the parent company to proceed.

Acting as lead advisor, Park Place introduced Bank of Scotland Integrated Finance who provided a funding package which allowed the management team to hold a significant majority equity stake. The business de-geared rapidly following the MBO creating shareholder value.

Interior Services Group plc, an AIM listed interior fit out specialist focussed on the South East but seeking to build a regional presence, expressed an interest in acquiring the business. Park Place was lead advisor to the shareholders in this successful realisation.

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