CASE STUDY: Bakewell & Horner
“MSIF have been fantastic to work with. They are professional, easy to work with and educated me throughout the process. Taking over a business is a huge step but they have given me the confidence and support I needed.”
Russ Horner, Managing Director, Bakewell & Horner
Bakewell & Horner in Wallasey was formed 80 years ago. The company provides estate agency and property lettings management services and currently employs 19 staff.
It is one of the only agencies in the area accredited by the Royal Institute of Chartered Surveyors (RICS).
The opportunity arose for Russ Smith, who had worked for Bakewell Horner for 10 years and had a minority stake in the business, to buy out the owner Peter Horner.
MSIF provided the investment to fund the management buy-out which saw Mr Smith take complete control of the business although Peter Horner will remain closely involved on a consultancy basis.
Bakewell & Horner is on course to increase its turnover from £600k last year to £700k this year.
The company has invested in a new IT system, branding and marketing and will shortly launch a new website which will offer online services with all the support of a traditional agency.
In the future the business may also look to expand into other areas across the Wirral.