We are very pleased to announce that Leathes Prior have acted for the shareholders of Rent4sure Ltd (“Rent4sure”) on the sale of Rent4sure to PIB Group Ltd (“PIB”), as part of the Barbon Insurance Group.
Alex Saunders, Jack Horwitz and Sam Poulter advised on the corporate aspects of the transaction, with support from Lucy Whipps and Julia Routledge on the commercial property elements and Dan Chapman on the employment matters.
Rent4sure was founded in 2009 with its headquarters in Dover and additional offices in Reigate and Norwich. Rent4sure is one of the UK’s leading tenant referencing companies, providing tenant referencing services and specialist insurance products to letting agents and landlords across the country. Rent4sure is known, in particular, for its market-leading technology in providing those services.
Barbon Insurance Group, who also own Let Alliance and HomeLet, is one of the UK’s largest tenant referencing and specialist lettings insurance company. As a new trio, the collaboration brings together Rent4sure’s technological innovation together with the referencing and insurance expertise of Let Alliance and HomeLet, so that customers get the best of all worlds. They will continue to trade under their respective brands, while developing the new generation of products and services for letting agents.
Luke Burton, Rent4sure’s Chief Operating Officer, said the acquisition was an exciting new chapter for the company: “I’m delighted that Rent4sure has been acquired by PIB Group and we look forward to working with our new colleagues at Let Alliance and HomeLet. This development allows us to build on 11 years of innovation as a lettings software and systems specialist. Working on a shared vision with our new colleagues means we can add more value to our portfolio, while retaining our unique brand.”
Barbon’s Chief Executive Officer Andy Halstead commented: “This is a brilliant opportunity, and all our customers are poised to benefit from the deal. Rent4sure has a great reputation in our marketplace, and Tim and Luke have built a professional business with an outstanding team of people supported by market leading technology. Everything we do is about our customers and delivering a service that our customers love. Rent4sure bring 2000 new customers to our Group, adding to our scale and firepower. We have the resources to deliver unrivalled value to our customers. I can’t wait to get cracking with our new colleagues and customers.”
Of Leathes Prior, Tim, Chief Executive Officer of Rent4sure said: “It was a pleasure working with Alex, Jack, Sam and all of the team at Leathes Prior, who were very professional, responsive and pragmatic throughout the whole sale process. The knowledge and expertise of the Leathes Prior team was vital to ensuring that the sale progressed as quickly and smoothly as possible – and we thank them for their support.”
Alex Saunders, Partner in the Corporate & Commercial Team at Leathes Prior, said: “As a longstanding client of the firm, we are delighted to have acted for the shareholders of Rent4sure on this important sale within the tenant referencing and insurance market. Tim, Luke and all involved at Rent4sure have developed a market-leading – and very impressive – business and I look forward to seeing the reputation and strength of the company continue under the ownership of PIB, as part of the wider Barbon group, in the years to come.”
We wish the Rent4sure team all the best for the future.