My Home Move acquired by Palamon-backed Simplify Group to create the largest conveyancer in the UK
Smedvig Capital are delighted to announce that My Home Move has been acquired by Palamon Capital Partners-backed Simplify Group. The businesses will be combined under the group name Simplify to become the largest conveyancing services business in the UK. Together the two groups will leverage their complementary strengths to build on the services they currently provide to customers and partners. Smedvig will continue to hold a significant minority stake in the business.
In addition to giving introducers and customers access to the largest and most technologically advanced platform in the sector, the merger of Simplify Group and My Home Move will create a £175 million EV business. Following the transaction, David Grossman, CEO of Simplify Group, will lead the Company.
Robert Toms, Managing Director at Smedvig Capital, commented,
“We are delighted to bring together My Home Move and Simplify, creating the largest conveyancing services business in the UK. The team at My Home Move have achieved a great deal in recent years, it has been a pleasure working with them. We’re excited to be part of the new combination, leveraging both businesses excellent teams and capabilities to enhance the strength of our offering both to partners and consumers.”
David Grossman, CEO of Simplify, said,
“I am incredibly excited about the future of Simplify Group and My Home Move in a partnership that brings together the best talent in the industry and creates a national leader of scale. By combining the best in technology, service and relationships from the two existing groups we will create a business that shapes the conveyancing market and makes life easier for customers, introducers and partners.”
Jean Bonnavion, Partner of Palamon, commented,
“We are delighted to have completed this transformational deal. The combination of the two leading players creates a synergistic platform with strong defensive features and through a transaction that is highly accretive for both Palamon and Smedvig. The enlarged group will combine the best of both firms to set a new service benchmark for customers and partners alike.”