North East entrepreneur completes MBO on 'luxury' international real estate business

A North East entrepreneur has announced that she has completed the management buyout of the real estate arm of a luxury concierge company.

Quintessentially Estates, which buys, sells, rents and manages luxury properties globally on behalf of high net worth individuals, has undergone a management buyout by its CEO, Penny Mosgrove.

Under Penny’s ownership, Quintessentially Estates will continue to work closely with the Quintessentially group and its exclusive client list.

The deal, which was completed for an undisclosed amount, was led by Williams Ali Corporate Finance and Square One Law.

Penny commented: “This is a natural progression for our business which will allow Quintessentially Estates to focus on delivering a first class experience for our clients from all of our offices around the world, whilst continuing to be part of the Quintessentially ‘family’.

“It is an excellent deal for all involved and the support of outstanding advisers was essential in making it happen.”

Phil Williams, partner at Williams Ali, said: “We have been delighted to work with Penny and Quintessentially to deliver a successful transaction.

“This deal assists the group with their ongoing strategy and creates an exciting platform for the Estates business to grow and thrive across its worldwide network.”

Mark Lazenby, head of corporate at Square One Law, added: “We are delighted to have supported Penny in this transaction.

“It seems a natural fit for all parties, allowing them to enjoy ongoing collaboration and for Penny to continue her dynamic leadership of Quintessentially Estates, but now under her sole stewardship. We look forward to seeing how the business develops in the future.”

Darren Ellis, Quintessentially Group CEO, said: “This deal represents an important step in the Quintessentially strategy as we simplify and improve our corporate structures, in this case through a licensing agreement.

“The ‘Estates’ brand will continue to be an important part of the Quintessentially portfolio and I am looking forward to seeing the business thrive under Penny’s ownership.”