Headpoint is pleased to announce it has advised Karl Parkinson-Witte on the sale of his interest in Richborough Estates, which he founded in 2003. The business, a strategic land promoter with more than 100 sites across the country, was acquired by its management through a management buy-out (MBO).
Richborough Estates identifies and promotes land suitable for new properties with landowners, securing planning approval for the delivery of new homes and supporting infrastructure before jointly appointing a development partner.
The deal was funded by specialist fund manager, Beechbrook Capital, to support both the exit for Karl and the company’s future growth ambitions.
Mark Wilson, managing director of Headpoint, commented “We are delighted to have advised Karl through the critical stages of the sale process realising a successful exit for him.”