Clearwater advises iamproperty on its investment from Perwyn

Transaction

Shareholders including LDC sold iamproperty to Perwyn

Sell-side

Undisclosed

Role

Adviser to iamproperty on its investment from Perwyn

Sector

Business Services
Tech & Tech Services

Region

United Kingdom

Clearwater has advised the Shareholders of iamproperty, a leading prop-tech business, on its investment from Perwyn and its debt package from NatWest and Barclays. The investment marks a successful exit for existing investor, LDC.

The business, a known innovator for the residential property market, pioneers of the Modern Method of Auction and creators of the UK’s first end-to-end onboarding and conveyancing platform, iamproperty is already working with over 6,000 UK Estate Agency branches to help them accelerate their success and is involved in over 1% of residential property transactions in the UK.   

As a strategic investment partner with specialist expertise of working with ambitious technology companies, Perwyn will support the business as it delivers on its vision to provide an ecosystem of innovative solutions for Estate Agents across the UK. 

 Co-Founders Ben Ridgway and Jamie Cooke, alongside the management team, will retain majority share and continue to drive forward their mission to modernise the property industry.

Clearwater’s Debt Advisory team provided the lender education process for the transaction, as well as working with the PE firm to raise debt facilities from NatWest and Barclays to support its investment.

The Clearwater team worked closely with iamproperty during LDC’s investment having previously advised the business in 2022 on its acquisition of VTUK, the developer of Openview, a cloud-based software platform focused on the property market.

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 us 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. Thanks to those who advised on the transaction including Clearwater. The team really integrated themselves into the business and went the extra mile to make us feel very supported.
Ben Ridgway, Co-founder, iamproperty

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.
Gurinder Sunner, Partner at Perwyn

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.
Gareth Marshall, Partner and Head of the North East & Scotland at LDC

iamproperty is a great example of a local success story. The management team has delivered impressive growth in an uncertain climate, they have continued to gain market share with Modern Method of Auction and innovated new services to further develop their offerings in the residential property market. Perwyn are a great partner for iamproperty, their support will allow the business to continue to disrupt the residential property market and bring innovative solutions to the market. This is a great example of Clearwater’s Debt and M&A teams working together to provide our client with a complete and comprehensive service. Having advised iamproperty over a period of time, helping to complete two acquisitions, we’re excited by what’s to come for the business.
Richard Goldsack, Partner, Clearwater

It is highly satisfying to deliver a Bank Club of NatWest and Barclays for what is a fantastic business. iamproperty is ideally placed to continue to transform its market and it was a pleasure to work with Perwyn to secure a debt package in support of their investment in the business.
Tom Barnwell, Partner, Clearwater