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GLP Taylors sold to JLL
Who?
LNT Group
Did what?
Sold GLP Taylors, its agency and consultancy business, to Jones Lang LaSalle
What does this mean?
The Leeds-based conglomerate announced its intention to sell GLP Taylors in January as part of a two-part divestment process. Group chairman Lawrence Tomlinson decided there was a potential conflict of interests within the group since its re-entry into care home operations with Ideal Care Homes.
Who advised?
Acting for LNT Group were Philip Raven at Freeth Cartwright and Richard Davies - LNT Group’s retained restructuring consultant.
Insider comment:
This deal completes LNT Group’s two-stage divestment process after sold its business valuations company, Taylors Business Surveyors and Valuers, to its management team in January. The group re-entered the care home industry with Ideal Care Homes, which it expects to grow to have more than 650 beds by June 2010, and decided there was a potential conflict of interest. Philip Hall, Head of Jones Lang LaSalle's Healthcare team, added: “With a proven reputation across this niche sector of the commercial property market, the acquisition of GLP Taylors complements our existing healthcare advisory team and allows us to strengthen our client service through the addition of an established agency business.”
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