Omnia duo take over companies through a management buyout

TWO BUSINESSWOMEN have acquired two property companies through a management buyout (MBO) following a six-figure funding package from HSBC.

Joanne Race and Amy Ryan have bought the South Yorkshirebased property companies, Omnia Estates and Omnia Offices, to create a new entity called R&R Yorkshire Properties.

The duo previously worked at Omnia Estates and Omnia Offices as head of finance and head of lettings respectively for a number of years.

The merged company will continue to provide large-scale residential and commercial property lettings and management services.

Omnia Estates and Omnia Offices have banked with HSBC for over 10 years and that was the reason the duo turned to the bank for support and advice.

Ms Race, co-owner of R&R Yorkshire Properties, said: “HSBC’s financial backing and guidance gave us the means and confidence to undertake this buyout and we’re excited to take the business to the next level while continuing the great work of our predecessors.”

Ryan Slater, HSBC relationship manager for South and West Yorkshire, said the bank was “pleased” to have backed the buyout and wished the businesses success under the new leadership of Joanne Race and Amy Ryan.

Mr Slater added: “The property market in Sheffield remains positive, so their buyout comes at an ideal time to consolidate their position and continue to pursue growth. We wish them every success for the future.”

Sheffield-based Omnia Property Group was established in 2004 and has grown over the years to cover the whole of the UK.