On Wednesday 7th May Security Research Group plc (the owner of Property Search Group (PSG)) made the following announcement:
“Security Research Group plc announces that it is to conduct a strategic review of its options concerning its wholly owned subsidiaries, PSG Franchising Limited and its subsidiaries and PSG Financial Services Limited. These options may include a sale of the companies, which are involved in property information and insurance services, with the distribution of the proceeds to shareholders.”
Andrea Glover, MD of the PSG Group of companies said today “This is a rare opportunity to acquire a profitable leading brand in the property search marketplace. We have a large and loyal professional client base that is serviced by a knowledgeable and committed franchisee network covering the whole of England and Wales”
PSG was founded in 1997 and was bought from its original owners by the London and Boston Group in 2005 (since renamed Security Research Group plc) for circa £12M. PSG has seen a major transformation over the last few years and is no longer just a personal search provider but offers a complete service solution backed by cutting edge technology, while still maintaining a personal, local service at the core of its ethos.
Andrea went onto comment “This is an exciting time for PSG, with an increasing market share and additional innovative products and services in development; a new owner, with further ideas and initiatives, can only be of benefit”
A wide and diverse search market offers competition for conveyancers so it will be interesting to see how this develops.