Bellrock Acquires Profile
Accountancy and business advisory firm BDO LLP in Birmingham has advised the Shareholders of Profile Consultancy Limited on its sale to leading estate management provider Bellrock, backed by Lyceum Capital.
Profile, based in Bedford and York is acknowledged as the market leader in the provision of service charge and insurance management in the retail and leisure sector. Profile has an impressive track record of delivery, currently managing some £250m of service charges per annum. Profile’s customer base of largely blue chip retail and leisure businesses compliments fully the corporate occupier focus provided by last year’s acquisition of Property Solutions. With this acquisition Bellrock is the leading independent specialist provider and is the natural partner for all tenant service charge needs.
Following on from last year’s five acquisitions, this Lyceum Capital and debt-backed acquisition is the single biggest investment to reinforce Bellrock’s technology-driven facilities management and property management portfolio of services.
Satvir Bungar, Head of Facilities Management and M&A Managing Director at BDO, comments:
"The management team at Profile has developed a unique proposition in a competitive service charge marketplace. There is real commercial synergy between the two organisations and Profile’s activities significantly complements the other, with Profile’s clients benefiting from Bellrock’s technical innovations, geographical reach of its new colleagues and access to additional resources. Bellrock is moving at a fast pace, expanding organically and through targeted acquisitions, and this significant investment is yet another great deal for Bellrock."
The sale of Profile to Bellrock is the latest in a series of transactions completed by BDO’s facilities management sector team and further illustrates the strategic importance of technology in facilities management.
Adam McGiveron, partner at Shakespeare Martineau, and Emma Bryant provided legal advice to the Shareholders of Profile.
For more information on BDO, please visit: www.bdo.co.uk.