Staffordshire-headquartered law firm Knights and Birmingham-based accountancy group Dains have advised on the sale of a stake in London property firm Tandem Property Asset Management to Swedish-backed real estate group Audria.
Tandem, founded in 2017, provides asset and property management, financial management, ESG and destination marketing services, with clients including M7 Real Estate, Martley Capital Group and Cube RE. It employs 108 people across six UK cities and is led by co-chief executives John Jones and Lisa Riva.
The investment marks Audria’s first move into the UK market. The group, established by Swedish investors Pejoni and Fidelio Capital, already owns four other property services businesses across the Nordics and Baltics, managing more than €100bn of real estate assets between them.
Knights, headquartered in Newcastle-under-Lyme, provided legal advice to Tandem’s shareholders and management team through Adam Dowdney and Harriet Jones. Dains, which relocated its head office to Birmingham’s Paradise development, advised on tax through Rebecca Jones, Paul Miller and Harry Cook.
The deal was led by corporate finance house Debrett’s, whose advisory team comprised Clive Hatchard, Will Mason and Adam England. Eight Advisory and Osborne Clarke advised Audria’s backer Fidelio on due diligence.
John Jones, co-chief executive of Tandem, said: “We are very positive about the future and excited to be joining Audria. We have built Tandem around our people, our customers and our entrepreneurial approach, and we believe Audria shares our long-term perspective.”
Björn Annwall, chief executive of Audria, added that the deal “establishes Audria in the UK for the first time” and gives the group “a strong local presence and a platform for further growth” in what he called “an important and dynamic real estate market.”