skip to main content

Muckle supports iamproperty’s new innovation phase with Perwyn as private equity partner

24th Oct 2023 | Corporate Finance
jamie cooke and ben ridgway standing next to each other with a brick wall in the background that has framed pictures on it

We're delighted to have supported our client iamproperty as it announced Perwyn as its new private equity partner.

The deal comes as the proptech business is about to record its biggest year of growth to date.  

 With revenues expected to hit £76m for the financial year ending 31 October 2023, Perwyn will support the company’s ambitious next phase of growth as strategic investment partner, with specialist expertise of working with ambitious technology companies.  

 Property technology pioneers

The business, a known leader in property technology and pioneer of the Modern Method of Auction and the UK’s first end-to-end onboarding and conveyancing platform, is already working with over 6,000 UK Estate Agency branches to help them accelerate their success.   

Co-founders Ben Ridgway and Jamie Cooke, alongside the management team, will retain a majority share and continue to drive forward their mission to modernise the property industry and deliver on their vision to provide an ecosystem of innovative solutions for Estate Agents across the UK.  

Ben Ridgway, Co-Founder at iamproperty, said: “2023 has been a fantastic year for the business and we’re incredibly proud of our team. This includes our successful growth partnership with LDC since 2019, and we thank them for supporting the business through what has been a very exciting period of organic growth and acquisitions in the last four years.  

“With Perwyn now at our side, we are entering 2024 with even bigger ambitious plans to lead the way in our sector.  There is a great synergy between our teams, and we excited to realise our vision with their support, investment and expertise.”  

 Transformative approach

Gurinder Sunner, Partner at Perwyn said: "We have been hugely impressed by the iamproperty team's transformative approach to auctions. Their differentiated strategy for market engagement has enabled them to forge a market-leading business in a growing sector. Perwyn is delighted to invest in the company, endorsing its vision for an interconnected ecosystem, and we are excited to partner with the team to facilitate the next phase of expansion as the business continues to scale.” 

Gareth Marshall, Partner and Head of the North East & Scotland at LDC, added: “Ben and Jamie are an entrepreneurial force to be reckoned with. Over the last four years, they’ve shown exactly what can be achieved when you invest in talent and technology. The growth of the business is something the entire team should be proud of, and it’s been brilliant to support them along the way. I have a feeling this is still only the beginning for iamproperty and I wish them every success for the future.” 

Trusted advisors

Anthony Evans, partner and head of our corporate team, led the legal advice to iamproperty with support from Hayden Richards and Ben Evans.

Eoghan Johnston, Chief Financial Officer for iamproperty, said: “We are excited to have Perwyn on board as our new investors as we look to grow the iamproperty Group portfolio following our very successful partnership with LDC.  It was great to have support from Anthony, Hayden and Ben and all the team at Muckle; they dealt with the whole process brilliantly for us; always on point and provided a fantastic service as always.”

Commenting on the deal, Anthony said: “It was an absolute pleasure working again with Ben, Jamie, Eoghan and the team at iamproperty; they are a fantastic team who deserve every success. This is a really significant transaction for the team, which is to the credit to the iamproperty team and how much they have achieved; they have really exciting times ahead and I have no doubt they will continue to be incredibly successful.”

For more information or if you'd like to speak to our corporate team about how we could help your business, contact Anthony Evans on 0191 211 7819 or [email protected].

Share this story...