Home Real Estate HML Holdings buys Bermondsey-based property management group

HML Holdings buys Bermondsey-based property management group

by Bella Palmer
hml hawksworth

HML Holdings’ subsidiary HML Hawksworth has acquired Bermondsey-based Managed Living Partnership Ltd (MLP) for £715,000 in cash, in a deal that is expected to be immediately earnings-enhancing.

The property management and insurance services company said the consideration will be satisfied from its existing cash balances.

The transaction includes an additional performance related retention payment of £143,000 which will, subject to the achievement of certain criteria, be made 12 months from the acquisition date.

MLP, which provides block management property services in central London, posted £40,000 in normalised earnings after tax in its last financial year and has annual revenues of around £555,000.

HML’s chief executive Rob Plumb said: “Having this additional presence in central London and the Docklands will be a significant advantage for us in the future.”

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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