Tue, 14 Nov 2023 | MBO/MBI
Hexagon Commercial Property, a commercial property company headquartered in the West Midlands, has been acquired in a management buyout (MBO). The deal sees Harvey Pearson acquire Lex Allan’s shares of the Stourbridge-based firm and he will now lead the company as its managing director.
The company operates across the office, industrial, leisure and retail sectors, working with an array of prominent clients, including Mercia Real Estate, Calthorpe Estates, Western Trading Group, LCP and SEP. The firm’s management portfolio consists of a contracted rent roll exceeding £2 million per annum.
Harvey Pearson joined Lex Allan Commercial as a trainee surveyor in 2013, working with owner Lex Allan. Five years ago, Allan and Pearson went into partnership and the company rebranded as Hexagon Commercial Property.
Lex Allan commented: "In my 30 years of trading under the Lex Allan banner the journey with Harvey has been one of the most exciting chapters.”
"Hexagon has been driven and developed by both Harvey and I, but the fundamental success of the business has been down to Harvey's insatiable appetite to match people and property in a commercial environment where he delivers insight and innovation in equal measure.”
Pearson said that the MBO represents “an exciting next chapter for Hexagon” and that Lex Allan had played a “pivotal part” in building the company. Following the MBO, Pearson said that the business will be moving offices as a result of its ongoing expansion and confirmed that Allan would remain with the business as a consultant post-transaction.
In the wake of the COVID-19 pandemic, MBOs have become an increasingly popular strategy for outgoing business owners seeking a secure, safe exit from their business, while still generating a reasonable valuation from the transaction. Find out more about exiting through an MBO in this dedicated insight:
MBOs come to the fore as owners seek a safe exit
Discover the chance to acquire a reputable RICS-regulated expert witness agency in the chartered surveying sector. The company's main focus is on property-related disputes and claims.
This reputable car servicing and MOT testing company, located near a bustling city centre, is equipped with state-of-the-art technology and has a strong presence in the market with potential for expansion into the electric vehicle sector.
This is a unique opportunity to acquire a well-established scaffolding supply business in Scotland, offering comprehensive services and working with blue-chip clients across various industries.
01
|
Apr
|
Law firms merge to create regional powerhouse | MERGER
A Lincolnshire and Yorkshire law firm have announced they ar...
01
|
Apr
|
Jackson Jackpot falls into administration | ADMINISTRATION
Online competition business Jackson Jackpot Ltd has gone int...
01
|
Apr
|
UK administrations: March 26 – April 1 | ADMINISTRATION
Since our last update, the following businesses have been co...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.