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Leading real estate agency adds another dimension
Leading real estate agency adds another dimension to its sales activities
Leading real estate agency Bayleys has established a company sales division which will focus on the sale of medium to large scale businesses in the Auckland region.
Bayley Corporation managing director Mike Bayley says the move is part of a growth programme based around increasing the scope and scale of its services. It follows the recent announcement that private company investor Direct Capital has taken a minority shareholding in the company to help facilitate this expansion.
“Many of our clients are also the owners and operators of businesses and it makes sense to extend the brokerage services that we can offer them in business sales,” says Bayley.
“Up until now we have largely sold businesses associated with tourism and hospitality properties, but this new division will be focusing on selling businesses in other areas of the market.”
Tony van Camp has been appointed Bayleys’ manager company sales and Chris Pritchard has also joined the division. They are both experienced business brokers who have sold a wide range of enterprises.
Van Camp entered the business broking industry in 2005 after selling a New Zealand Home Loans franchise company that he jointly owned and operated for seven years. He initially worked for Tabak Business Sales and completed the Australian Property Institute’s Advanced Business Valuation Course. For the past four years he has been a business broker for Auckland Company Sales & Acquisition and has been involved in the sale of a wide range of businesses including retail, manufacturing, distribution, automotive, printing packaging and factoring companies.
Chris Pritchard comes to Bayleys from Tabak Business Sales where he has spent the last four years selling medium to large businesses over most industry sectors ranging in value from $500,000 to $13million.
Van Camp says Bayleys’ company sales division will be focusing on well established businesses with good future maintainable earnings. It will handle all aspects of the sales processes from the initial value appraisal and assisting the vendor to build a credible Information Memorandum through to negotiating the structure of the sale and putting a sale and purchase agreement together for solicitors to approve.
“For most vendors, selling a business is usually one of the largest financial transactions of their lives and is a process that needs careful consideration, planning and execution.”
He says most business sellers want
similar things - confidentiality, the right buyer to ensure
the ongoing stability and integrity of the business, and the
right exit structure for them.
Van Camp says the business sales market had remained active through the recession.
“There has been quite a bit of merger and acquisition activity, and demand for quality businesses has exceeded supply since late 2008. Some companies which have been unable to achieve growth organically during the economic downturn have looked to acquisition to secure this, and have been prepared to pay good prices for other good companies.”
He says over the next 10 years, there is likely to be a significant transfer of ownership of mature businesses in New Zealand.
“There is an aging group of baby boomers who have owned and worked in their businesses for many years and who are looking to enjoy their retirement years funded by money realised from the sale of their business. This is likely to result in a generational shift in the ownership of many businesses which will be a good thing for the future of New Zealand.”
ENDS
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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