Two Sheffield businesswomen complete MBO of property firms

Two Sheffield businesswomen have acquired property companies, Omnia Estates Ltd and Omnia Offices Ltd, to create a new entity R&R Yorkshire Properties Ltd.

Joanne Race and Amy Ryan were able to complete the management buyout (MBO) after securing a six-figure funding package from HSBC.

The MBO sees Joanne and Amy, who have worked at Omnia Estates and Omnia Offices as head of finance and head of lettings respectively for a number of years, become the new owners of R&R Yorkshire Properties.

The merged company will continue to provide large-scale residential and commercial property lettings and management services.

Omnia Estates and Omnia Offices have banked with HSBC for over 10 years, so the bank was Joanne and Amy’s natural choice to support the buyout.

Joanne Race, co-owner of R&R Yorkshire Properties Ltd, said: “HSBC’s financial backing and guidance gave us the means and confidence to undertake this buyout and we’re excited to take the business to the next level while continuing the great work of our predecessors.”

Ryan Slater, HSBC relationship manager for South and West Yorkshire, added: “HSBC is committed to supporting the growth of local businesses in South and West Yorkshire, so we are pleased to have backed Joanne and Amy in their management buyout.

“The property market in Sheffield remains positive, so their buyout comes at an ideal time to consolidate their position and continue to pursue growth. We wish them every success for the future.”

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