06/07/2009
Vail Williams LLP, leading real estate adviser, has acquired the business of Smith Melzack Pepper Angliss (SMPA) boosting its presence in London and enabling the firm to deliver an expanded service offering to existing and future clients.
Vail Williams is principally purchasing the asset management, valuation and agency business divisions of SMPA which will combine with the existing Vail Williams team in London at a single location. This will significantly add to the service offer of Vail Williams in London, and also allow SMPA clients to access the briad range of Vail Williams’ services.
Vail Williams, which has a strong presence across the south of England and into the Midlands, first established contact with SMPA four years ago when Vail Williams was looking to establish a presence in London. Although terms could not be agreed at that time, a strong synergy between the businesses was identified and recently interest in the opportunity was renewed.
According to industry reports, Smith Melzack Pepper Angliss was bought by AIM listed Mercury Group, which counts Vincent Tchenguiz’s Consensus Group as one of its main shareholders, in 2005.
Ronnie Franks, director at SMPA, commented: “Joining Vail Williams is an excellent move for us and our clients who will now have access to an enhanced range of services and greater resources throughout the UK. We have always respected the quality and values Vail Williams present to the market and are delighted that they were able to recognise the potential that people and clients at SMPA can add to their already very successful business. I believe our client will see significant benefits from working with the experienced team at Vail Williams.”
Ian Rudland, chief executive and partner at Vail Williams, commented: “The businesses of SMPA and Vail Williams are an excellent fit and this is a great opportunity for us to increase out influence through a significantly stronger London presence.
“We believe the very challenging trading conditions will offer more opportunities such as this in the future and our aim is to use Vail Williams’ underlying financial strength to secure suce situations and to help deliver real growth to us during the recession. SMPA has a strong and loyal client base that will benefit from continuity of service and experience significant benefits of working with a larger firm with far wider geographical influence and diversity of expertise.”
