Headquartered in Cambridge, Januarys was a specialist commercial property consultancy business, and recognised as one of the leading chartered surveyor’s practices in East Anglia.
A longtime client of the firm, Avondale had been working with Januarys’ owners over a number of years to help prepare the company for sale. With limited succession plans beyond the firm’s principal senior shareholders, the vendors were keen to begin planning their exit strategy early. As part of their strategic preparations, Avondale’s team had assisted in acquiring a subsidiary business, which had helped to secure a number of recurring revenue streams.
With the owners now well placed to maximise the potential deal value, a sale strategy was engaged. Avondale’s team carefully marketed Januarys to create a competitive sale environment. Their work initiated a high volume of interest in the business, generating strong bids from three prospective aquirers.
With several attractive offers to choose from, Carter Jonas, a property consultancy also originally founded in Cambridge, was selected as the best strategic fit to acquire the company. The Avondale-Januarys team progressed to advanced negotiations with Carter Jonas, with the discussions culminating in a high deal value that exceeded the shareholders’ expectations. The completed transaction, beyond being a true homecoming for Januarys, has since added significant value to the acquirer’s business.
“We would thoroughly recommend Avondale to any company currently in the position we were in two years ago of knowing you need to do ‘something’, perhaps feeling that you do not want to and certainly not knowing what ‘something’ might be or look like! Their guidance was invaluable.”
Simon Dazeley, Managing Director, Januarys