Following its strategic acquisition of the Rede boutique brokerage and business advisory firm, Bayleys’ business sales division continues to strengthen its national offering with the key appointment of a new senior business broker.
Andrew Ricketts joins Bayleys Business in its Strategic Transaction Services division, focusing on sell-side advisory services and off-market results for businesses with an enterprise value of up to $50 million.
Ricketts is a chartered accountant with almost two decades of experience in professional services, the last 12 within Corporate Finance, working on both the buy-side and sell-side of business transactions.
Bayleys Business national directors, William Cheong and James Macmillan, say that by securing Ricketts’ skillset, the burgeoning business line has received a credibility boost in the unlisted private market.
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“Andrew brings a depth of practical experience advising on strategic mergers, acquisitions, and divestitures for some of New Zealand’s leading professional service firms.
“His expertise will be instrumental at Bayleys as we further support clients with complex transaction requirements whilst directing strategic initiatives to drive growth and value creation, particularly as we increase capacity to sell businesses with scale.
“Based in the Waikato, with a national focus, Andrew will continue to leverage Bayleys’ position as the country’s largest, full-service real estate agency. Connecting the dots of our multi-disciplined network and depth of connection to corporate New Zealand and private wealth holders will result in excellent results for our clients,” they say.
The expansion comes amid a gear change for the national business sector, particularly as a growing ageing population of business owners looks beyond succession planning to their exit strategy and options for releasing funds for retirement.
Bayleys Waikato commercial regional manager David Cashmore says Bayleys Business expansion is occurring at a variable time for the domestic economy, which presents its own unique opportunities.
“While some businesses are hunkering down in anticipation of a period of consolidation, Bayleys continues to expand its commercial services offering, confident that companies will continue to change hands throughout every phase of the market’s cycle.
“There are encouraging signs of activity from local purchasers, with global investors and corporate entities looking to New Zealand as a pool of potential, anchored by ease of doing business and a relatively safe and consistent economy.”
“In the current business climate, industries such as health, logistics, and manufacturing services are seeing notable success. Consumers increasingly favour familiarity as they gravitate towards trusted brands they know.”
Regarding Bayleys Business service offering, Ricketts says that business owners considering their options will appreciate that discretion and confidentiality underpin all aspects of Bayleys’ Strategic Transaction Services team’s ethos.
The team undertakes rigorous vetting of prospective purchasers to protect intellectual property and ensure a good fit between buyer and seller.
“To truly optimise the value of our client’s assets, early engagement (up to several years) with business owners and their existing advisors can significantly increase value and the likelihood of a successful and smooth transaction for the owner. This methodology ensures all parties are aligned on expectations and that operators are market-ready before making swift and strategic moves.
“The chance to provide market-leading and specialised services under the Bayleys banner offers our clients a distinct advantage. They gain access to a broad range of buyers across Bayleys’ extensive networks and multi-disciplined reach. I look forward to helping to grow the new Strategic Transaction Services arm of the Bayleys’ commercial business alongside William and James and achieving great outcomes for business owners and buyers across New Zealand.”
- Supplied by Bayleys
