Newcastle residential auctioneer aims to “modernise the property sector” with cloud-based business acquisition

Gosforth based residential auctioneer iamproperty has acquired cloud-based property software business VTUK in a trade deal, for an undisclosed sum.     The deal forms a key part of iamproperty’s continued mission to “modernise the property sector” and to further develop solutions and services for estate agents that have “speed and security at their heart”.   VTUK offers CRM solutions including Openview, a cloud-based property CRM software platform. The platform enables agents to fully automate their day-to-day operations. The business aligns with the iamproperty portfolio and creates opportunity for innovation and development for both companies.
  Established in 1989 by founder Peter Grant, Oxfordshire based VTUK works with over 300 estate agencies across the UK and already shares a number of mutual customers with iamproperty.    VTUK’s founder, Peter Grant, will exit the business following a handover period, leaving the well-established leadership team at the helm, headed up by operations director Adam Rackham, who has been with the business for over 20 years.   

Peter Grant was advised by Ryecroft Glenton Corporate Finance. iamproperty were advised by Muckle LLP, Tait Walker, and Clearwater International.

Ben Ridgway, managing director at iamproperty Group, said: “We are delighted to be bringing VTUK into the iamproperty Group. Peter has built a business that is well respected in the industry with the support of an established team and we’re really looking forward to working alongside them.

“This is a great opportunity for our staff and customers, creating synergies that will benefit our mutual Partner Agent Network”.     Peter Grant, founder of VTUK, added: “A great deal of planning and care went into finding the right partner to take the business forward; we have built our product and service portfolio for over 30 years and know this move will create a bright future for VTUK and our team, allowing the company to accelerate with the dynamic support and innovation that is synonymous with iamproperty”.