History
In 1986, financial services company Hambros plc (de-merged itself from Hambros Bank), acquired two estate agents, Bairstow Eves and Mann & Co, to form a new company called Hambro Countrywide plc, which was listed on the London Stock Exchange. In 1988, the company created Hambro Assured, then the UK's largest life insurance broker.
The group then grew through acquisition, buying:
- 1994 - Nationwide estate agents and surveyors from Nationwide Building Society
- 1995 - Spencers from National and Provincial Building Society
- 1997 - London firms Faron Sutaria, PKL and John D Wood & Co.
In 1998, Hambros plc de-merged the newly created Countrywide Assured plc. After creating a franchise opportunity under the Bairstow Eves brand, the group then restarted its acquisition trail:
- 2002 - acquired Friends Provident estate agents and surveyors, in return for long term license to resell Friends Provident financial products. De-merges Countrywide Assured in May 2004, as the newly and separately listed Chesnara plc
- 2004 - acquired Freeman Foreman group. Then acquired estate agency business of Bradford and Bingley Building Society
In 2007, the company was 100% acquired by Apollo Management for a sum over £1Bn, and de-listed from the London Stock Exchange. Following debt restructuring, the owners now include Apollo Management, Oaktree Capital Management, and Alchemy Partners.
Read more about this topic: Countrywide
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