Landmark strengthens business with conveyancing acquisition
Landmark Information Group, the leading provider of information to the property market and part of Daily Mail and General Trust plc (DMGT), has today strengthened its business with the acquisition of the conveyancing panel management business of Aventria.
Landmark will rename the business, which serves mortgage brokers and other introducers across the UK, as Optimus. Alan Young, the current chief commercial officer at Aventria, will take on the role of managing director of the Bristol-based Optimus team. The acquisition does not include Aventria’s asset management business.
The investment by DMGT recognises the opportunities the Group continues to see in the property information market. Besides Landmark, DMGT also owns Trepp and BuildFax and, until last year, was the largest shareholder in ZPG Plc, the owner of Zoopla that was sold in a £2.2 billion transaction.
Optimus’ conveyancing panel management services provide mortgage brokers and introducers with access to a select panel of pre-approved and regulated conveyancing partners that are focused on quality and seamless service delivery. Using the latest technology, Optimus ensures all parties in a property transaction are informed and updated when any communication or update is sent, or a milestone is achieved.
Simon Brown, CEO of Landmark Information Group, said: “We are delighted to announce the acquisition of the conveyancing panel management business from Aventria. The business is a game-changer in the market, with excellent technology integration to provide greater transparency for all. Optimus is a good fit with Landmark’s other property information and software assets, where we are also investing for growth.
“The acquisition is transformational for Landmark, enabling us to work more closely with mortgage brokers and other introducers, while continuing to serve existing complementary markets such as legal conveyancing, estate agency and mortgage lending. With our investment and technology expertise, we look forward to enhancing the Optimus offering and extend a warm welcome to the team.”
Alan Young is well-known in the intermediary market having spent more than 15 years in the sector. He joined Aventria Group as chief commercial officer in October 2018 and previously held the roles of business development director at ULS Technology and director of partnerships and chief commercial officer at John Charcol. He has also worked with GMAC-RFC.
Commenting on the acquisition, Alan Young said: “Our conveyancing panel management services fill a market need in helping brokers and other introducers better support their clients with the property transaction process, whilst keeping everything transparent and fair for all parties. Our technology integrates seamlessly with introducers and conveyancers to ensure a smoother, faster transaction process. With increased investment from Landmark in technology and business development, we plan to expand our proposition and I’m excited about how the new Optimus brand will evolve over the coming months.”
The sellers were advised by solicitors Temple Bright. Corporate partner Jonathan Poole said: “It was a real pleasure to work on this deal, which exploits natural synergies and enables further development of the Optimus offering.”
This article appeared on the Bdaily website on 20 August 2019.