The sun shines on overseas property firm deal

15th January 2013

Corporate finance specialists from Leicester have advised on the sale of Market Harborough based Resort Solutions Limited, an international holiday property management company, to Club la Costa Group.

Advisers from the Leicester office of national law firm, Gateley and accountancy firm RSM Tenon advised the shareholder of Resort Solutions which employs 20 people locally. Founded by Linda Freer in 2005 after 20 years as director for other companies within the industry, Resort Solutions is Europe’s largest independent property management company specialising in the holiday ownership industry.

Andy Breeze and Micky Johal from the Leicester office of RSM Tenon acted as lead corporate finance advisers to Linda in the sale, for an undisclosed sum, to Club la Costa.

Andy said: “We advised Linda throughout the entire sale process, and the disposal will allow Linda to step away from the business. We helped to generate buyer interest in Resort Solutions, as well as managing offers and conducting negotiations.

“Linda successfully developed the business into a highly profitable and successful operation. We were delighted to assist her with a successful sale to a large, credible buyer which represents an ideal fit in terms of culture and in providing the platform for the next stage of Resort Solutions’ development.”

Rachel Bennett, corporate associate at Gateley, acted on the deal. Rachel said: “It is satisfying to be involved in a truly local deal – Resort Solutions and its entrepreneur, Linda Freer, are both Leicestershire based and the deal was both sourced and advised on by Leicester based experts at Gateley and RSM Tenon – this is a great testament to our county’s wealth of business and advisory talent."

Resort Solutions currently provides professional and unbranded management services and solutions to 14 resorts throughout the UK and Europe.

RSM Tenon’s involvement included preparing the business for sale, identifying potential buyers, making approaches to those buyers, and conducting negotiations with seriously interested parties. Gateley provided legal advice to the shareholder.

Linda will work on a consultancy basis for an initial period of 12 months. All operational responsibilities will be assumed by Brad Revell, who has been appointed MD of Resort Solutions.

Linda said: “Club la Costa is a well-established, international company which has plans to further grow Resort Solutions which is good news for the existing staff and clients.

“It was good to work with two local organisations RSM Tenon and Gateley on the deal. Both added significant value and were calm and professional throughout the whole process.”