Garbutt + Elliott advises Hunters on AIM flotation

Garbutt + Elliott advised one of the UK’s largest national sales and lettings estate agency businesses, Hunters, on its flotation on the AIM market.

I would like to thank Garbutt + Elliott for the invaluable expertise and support they have provided to Hunters over the years and during the flotation process Ed Jones, Hunter Property PLC’s CFO

Hunters, which was founded in York and has 151 branches around the country, floated with a market capitalisation of £16.9m and a share price of 60p.

We provided auditing, corporate finance advisory and tax services to Hunters and assisted with the pre-float fundraising which included tax structuring advice.

The team was led by myself and assisted by Tariq Javaid, corporate finance director.

The initial public offering (IPO) on London’s AIM market will build the company’s public brand and provide access to capital to fund further growth plans.

Ed Jones, Hunter Property PLC’s CFO, said: “This is an immensely exciting time for Hunters. Listing on AIM is a major step forward in our expansion plans; with access to further capital we see significant opportunity to increase our market penetration and strengthen our position as one of the UK’s favourite estate agency brands.

“I would like to thank Garbutt + Elliott for the invaluable expertise and support they have provided to Hunters over the years and during the flotation process. We support and believe in working with local businesses and are pleased that Garbutt + Elliott was involved in this exciting process.”

Hunters has 140 franchise branches with the remaining 11 branches being owned by the agency. The business has grown both organically and by acquisition to date. Its latest deal was the acquisition of Country Properties’ 23 branches in May, 2015.

We are delighted to have advised one of our long-standing clients on this high-profile assignment. Hunters is a great example of a growing and entrepreneurial Yorkshire business which now has a fantastic opportunity to capture a large slice of the UK agency and lettings market. We wish the Hunters team all the success for the future as they seek to expand and further establish their brand across the UK in the years ahead.