North West property and lettings agent Regan & Hallworth has accomplished a administration buy-out (MBO) led by administrators Andrew Herterich and Joel Edgerton, backed by six-figure funding from NPIF II–FW Capital Debt Finance.
The mortgage, supplied via the Northern Powerhouse Funding Fund II, has enabled the administration workforce to amass the enterprise and spend money on its future with further working capital.
Based in 1996, Regan & Hallworth operates from a head workplace on Library Avenue in Wigan, with further places of work in Standish and Parbold. The agency serves prospects throughout Wigan, Standish, Leyland, Chorley, Parbold and surrounding areas of West Lancashire.
The enterprise was initially established as a partnership between Amanda Regulation (previously Hallworth) and Andrew Regan. Following Regan’s departure in 2018, Herterich and Edgerton acquired a minority stake within the firm.
Underneath the MBO, Amanda Regulation has retired and full possession has transferred to Herterich and Edgerton, who’ve every labored at Regan & Hallworth for greater than 20 years.
Herterich, mentioned: “Taking possession of the enterprise was a pure development for Joel and I, giving us the chance to be the captains of our personal ship.
“Regan & Hallworth is a number one unbiased property and lettings company that has achieved appreciable success. We’re now centered on sustaining this success and persevering with to work laborious to develop the enterprise.”
He added: “With out the assist from Steve Molyneux at FW Capital this deal wouldn’t have occurred. Steve was sensible, he was available to speak to us each day to make sure the graceful completion.”
Steve Molyneux, senior funding government at FW Capital, commented: “Regan & Hallworth is a really properly established enterprise that could be a market chief in its subject regionally.
“We’re excited to again a extremely skilled and impressive administration workforce and look ahead to supporting Andrew and Joel’s progress journey shifting ahead. The MBO is an thrilling step ahead for the enterprise and the NPIF II funding has assisted this in addition to the availability of working capital to assist continued progress.
“Supporting North West companies to understand their ambitions and drive ahead enterprise success is precisely what the NPIF II funding has been created for.”
