16th March 2021
QPE supports management buyout of Encore
Queen’s Park Equity (“QPE”) is proud to announce that it has supported the management buyout of Encore Group (“Encore”), a leading specialist property management solutions provider, led by Joaquim Fillola, James Peace and Jeremy Chard. Founding partners Stephen Chard and Neil Robinson will also retain a stake in the business.
Encore, a Cambridge headquartered award-winning Residential Managing Agent, provides a range of estate management services to over 27,000 properties across the UK. The business has grown strongly in recent years as a result of its longstanding relationships with housing developers and 16-year track record of providing high quality services to its customers.
With QPE’s support, Encore will continue to invest in its people, the Encore Training Academy, technology platform, compliance and support infrastructure which is becoming increasingly vital as new regulation emerges across the sector. The supplier landscape is highly fragmented and QPE’s investment will support a combination of organic and accelerated growth opportunities.
Joaquim Fillola, CEO of Encore said, “I am hugely proud of what the team at Encore has achieved over the past 10 years and I am excited about the next phase of growth. In QPE we have found a culturally aligned investor who understands the sector and the importance of delivering best-in-class quality services to our customers. We welcome the QPE team to the board and look forward to the value they will bring through their investment experience.”
Jonny Kay, Managing Partner of QPE added, “Encore stood out for us because of its highly professionalised and customer-centric approach. We have been impressed by the business’ positive customer feedback from developers, freeholders and RMCs alike, as well as its financial performance. We believe the sector will continue to evolve and become increasingly complex as the regulatory backdrop develops, so will benefit from continued investment and professionalisation. We are delighted to back Joaquim and the team.”
Encore is the third platform investment from Queen’s Park Equity Fund I, which was oversubscribed and closed at its hard cap of £185m in December 2020. QPE is focused on providing capital and expertise to high-quality businesses with an ambition to accelerate their growth.
Advisors to QPE:
DC Advisory (buy-side advisory), CIL (commercial due diligence), FRP Advisory (financial due diligence), CMS (legal due diligence), Vista (insurance due diligence) and The Continuum (management due diligence)