Bayleys is the largest full-service real estate agency in New Zealand and has also been actively assisting business owners to sell their businesses through its team of specialist brokers. In January 2024, Bayleys made the strategic acquisition of bespoke brokerage and advisory firm Rede, which had a track record of transacting sizable unlisted business enterprises valued between $5m to $50m.
Rede’s two founders William Cheong and James Macmillan have taken up the positions as National Directors for Bayleys Business.
Ryan Johnson, Bayleys National Director Commercial said in acquiring Rede, Bayleys is publicly acknowledging that business sales sits alongside real estate – not under it – as a business line with its own unique credentials and transactional paths. “Bayleys has a reputable and proven history in the sale of businesses valued sub-$2 million and while we will continue to grow this part of our operation, we now have capacity and added credibility to sell businesses with scale.” he explained.
“By harnessing the leadership, skillsets, and experience of Rede, we’ve boosted capability to transact enterprise businesses in the unlisted private market with a value of up to $50 million.
“The new-look Bayleys Business model will have four arms to it – advisory, brokerage, valuation and syndication, servicing clients right across the country.” Bayleys clients own residential, lifestyle, farm and waterfront properties along with their commercial and business interests and Bayleys Business will help connect all the dots across the real estate spectrum.
Rede was created by chartered accountant William, who has broad international experience in commercial banking and financial risk management, and James who comes from the banking sector with experience in business, commercial and corporate finance, restructuring and insolvency.
The pair were drawn to the culture of the family helmed Bayleys company where initiative, leadership and professional development are supported, and interconnected business relationships are ingrained.
“In aligning Rede with Bayleys, our long-held goal of growing a nationwide network of brokers who are trusted professionals and leaders specialising in selling businesses of scale will be realised,” said William.
“By backing our value proposition with the power of the Bayleys business, brand and network, we believe it is possible to achieve this goal in a short period of time and for Bayleys Business to become the most trusted successful business sales brand in New Zealand.” James said Rede was founded on professionalism, knowledge and confidentiality and was driven to deliver a level of service to New Zealand business owners usually only seen at the top end of the mergers and acquisitions industry.
Building on Rede’s legacy, Bayleys Business will provide a unique sell-side advisory service and represent businesses with an enterprise value up to $50 million,” he said.
“Unlike a retail business brokerage, our targeted and intelligent approach is largely off-market without public marketing. “Bayleys’ national team of professional business brokers, advisors and consultants respect the time, energy and commitment it takes to build a successful enterprise, and work harder and smarter to deliver altogether better results tailored to their clients individual goals.”
James said discretion and confidentiality underpin all aspects of the process and thorough due diligence is carried out on prospective purchasers to get an in-depth understanding of their investment parameters to effectively “matchmake” sellers and buyers.
For business advice that works, please contact your local Bayleys Business specialist Rodger Howie on 027 431 1973. bayleys.co.nz/business
