Key conveyancing data and technology provider TM Group has announced its sale to European investment firm AURELIUS.
AURELIUS, which is set to provide further investment to support TM Group’s growth, describes itself as having a “global reach focused on private equity, private debt, and real estate”.
The sale will conclude the undertakings entered into following the decision of the UK Competition & Markets Authority (CMA) that the acquisition of TM Group by Dye & Durham, originally agreed in July 2021, would have reduced competition for the provision of property searches in England and Wales.
Despite the uncertainty, however, tmgroup says it has continued to successfully run and grow its business, “focusing on developing forward-thinking solutions to enhance and accelerate property transactions”. Indeed, a year-long pilot by Thomas Legal and specialist search provider Conveyancing Data Services, a part of tmgroup, recently cut transaction times by 40% via early onboarding.
“With AURELIUS’ support, TM Group will continue to develop and expand its portfolio of customer-facing solutions, serving all key constituents involved in property due diligence,” said TM Group following the acquisition, adding:
“Exciting new developments, including its Seller’s Upfront Information, Secure Data Sharing, and Property DNA proposition, will further deliver on TM Group’s commitment to client service, delivering efficiency and time-saving benefits to its customers.”
Joe Pepper, CEO, tmgroup, commented:
“We are thrilled that the sale of TM Group to AURELIUS has now been completed, and to have secured further investment from AURELIUS, a partner that shares our vision for growth and innovation. This collaboration will allow us to further develop and enhance our product offerings, leverage our strong brand recognition, and continue to build on our prominent property market presence.”
Tristan Nagler, Partner at AURELIUS, added:
“We are excited to work with TM Group to enhance its best-in-class services and due diligence insights. Our investment will bring additional opportunities for TM Group to develop its innovative and market-leading product offerings at the heart of the UK property market, while also continuing to focus on outstanding client service.”
TM Group says it will now work with AURELIUS “to further enhance its end-to-end solutions for every step of the property transaction, delivered through TM Group’s proprietary software tools”.
