All-female management team takes over Bidmead Cook in Development Bank-backed deal
All-female management team takes over Bidmead Cook in Development Bank-backed deal
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Estate agency Bidmead Cook has entered a new chapter as three long-serving staff members completed a management buyout (MBO) of the business, supported by the Development Bank of Wales.
Melissa Price, Laura Robinson, and Sara Williams, who together have more than 30 years’ experience with the company, have taken ownership of the Ebbw Vale branch. The move follows the decision by founders Alan Bidmead and Jeffrey Cook to step back after more than two decades at the helm.
The trio will continue to trade under the Bidmead Cook name, taking on the branch’s assets, client base, and supplier relationships to ensure continuity for customers.
In a joint statement, the new directors said: “The timing of the opportunity to buy the business worked out well for all three of us. We’re all ladies of a similar age with families and children, and had come to that point in our careers and our lives where we were each looking for future security, along with a good work-life balance.
“But at the same time, we didn’t want to walk away from a business with a well-known reputation, which has been built up by the hard work and commitment we’ve put in personally.”
They added: “The support we had from the Development Bank of Wales meant we were able to capitalise on the opportunity to take the business on, and we’re looking forward to building on our reputation, exploring wider opportunities and building our relationships with developers locally.”
Funding for the deal was provided through a micro loan from the £500 million Wales Flexible Investment Fund, which is financed by Welsh Government and offers loans, mezzanine finance, and equity investments ranging from £25,000 to £10 million with terms of up to 15 years.
Claire Vokes, Senior Investment Executive at the Development Bank of Wales, said the new directors were well placed to drive growth.
She said: “It was a pleasure to support Sara, Melissa and Laura in their acquisition of the Ebbw Vale office of Bidmead Cook. They bring years of combined experience, contacts and client relationships to their new roles as directors, with clear growth plans in mind, while retaining existing relationships in the local market.”
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