We’re a proptech company now says Nurtur boss after Guild sell-off

Nurtur.group says it’s going to focus on proptech solutions and help deliver Artificial Intelligence (AI) to estate agents following its suprise disposal of Fine & Country and The Guild of Property Professionals to The Property Franchise Group (TPFG).

The Neg reported earlier this week how upmarket estate agency Fine & Country and sister firm The Guild of Property Professionals had been bought for £15 million by TPFG, funded via a loan from Barclays Bank.

STRATEGIC

Nurtur.group says the move was strategic and will allow the marketing and communication (Marcoms) specialists to focus on enhancing AI capabilities for agents as it looks to shake up the digital marketing and communication landscape.

Jon Cooke (main picture), Chief Executive of Nurtur.group, says: “Our decision to divest the Nurtur Networks arm is a strategic step towards consolidating our position as a market leader in the homeowner and home-mover sphere.

“By refocusing our efforts on integrating powerful AI capabilities throughout our software and services, we are positioning ourselves and our customers for unprecedented success.”

He adds: “We are pleased that the buyer of nurtur networks happens to be one of Nurtur’s largest customers, fostering a close affiliation with the teams with whom we have worked with for many years.”

LARGEST SUPPLIER

Matthew Siebert, Partner at Toscafund, the long-term backer of Nurtur.group, adds: “Nurtur is now the largest supplier of Marcoms solutions to estate agencies in the UK and we believe a streamlined strategy dedicated to offering innovative AI capabilities will power the group’s next growth phase.”

The Neg can also reveal that Clive Beattie is to leave Nurtur.group as Chief Financial Officer by mutual agreement. He joined the group in January 2023 to consider and implement strategic options for shareholders. Before that he had been a finance boss at OTM.

Having identified a sale of the networks division as the preferred short-term strategy to maximise shareholder value, Beattie led the process that culminated in the sale of the business to TPFG.

Cooke adds: “I would like to thank Clive for all his hard work in the time he has been with us, in particular for his leadership in overseeing the exit from our networks division for our shareholders. On behalf of myself and the Board, I wish him the best in his future endeavours.”