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Lakehouse acquires Foster Property Management

Lakehouse has an aggressive, acquisitive growth strategy and contacted Avondale to search for a suitable target. A clear mandate was given to look for specific types of businesses in specific geographical areas.

Through extensive research, Avondale identified Foster Property Management, £50m turnover. Although not fully reflecting the brief, the strategic fit was unquestionable and geographically represented a great opportunity to increase the businesses coverage.

The team at Lakehouse were very excited about the synergies the FPM acquisition could bring, and were encouraged by the fit of the two management teams within the businesses.

The acquisition of FPM’s business ensures that Lakehouse achieve their growth targets and they forecast a vastly improved turnover.  

“We’re thrilled to be able to incorporate a highly respected business like Foster Property Maintenance into Lakehouse. Avondale clearly understood our goals and identified FPM as a perfect strategic fit.”
Stuart Black, Executive Chairman, Lakehouse

To talk to Avondale about your objectives, call 01737 234892 or email iod@avondale.co.uk

 

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