Odevo, the property management group that launched in the UK earlier this year, has acquired Trinity Property Group as it continues its rapid growth trajectory.
Odevo was formed when leading UK managing agent Rendall & Rittner joined forces with Swedish based Nabo and SBC. UK-based Premier Estates and Finnish Companies MTR and STIO also became part of the group. Together they aim to challenge the industry and harness the power of technology and the highest standards of customer service to become the leading force in property management and residential services internationally.
Trinity Property Group manages in excess of 95,000 homes across England and Wales with an additional 55,000 committed to management, making it one of the UK’s largest residential property management companies. Its annual revenue of £20 million and 320 employees brings the Odevo group annual revenue to £134 million and 1,700 employees. Together the Odevo companies manage a portfolio of more than half a million homes.
Odevo was created to improve the experience of property management for residents through better technology and customer service. Putting technology at the heart of its business and investing heavily in developing a platform tailored for the UK management market.
Jonathan Smith, CEO of Trinity Property Group, comments: “We are delighted to become part of the growing Odevo group, which will allow us to continue to improve service delivery for our customers and clients. Changes in legislation and advancements in technology and communication have placed a great deal of pressure on managing agents. At Trinity, we continue to invest in ensuring we keep up with changes in compliance to protect our end users, as well as improving our IT systems to make communication more efficient and user friendly. By becoming part of Odevo, we look forward to enhancing the customer experience further.”
Odevo aims to continue its strong trend of growth in the future, both organically and by attracting additional companies from Europe and worldwide to join the group. It is currently present in three markets in Europe – Sweden, UK and Finland – but has aspirations for future expansion worldwide, including into the USA. The group is backed by Swedish investment company Fidelio.
In the UK, founding partner Rendall & Rittner is already witnessing the boost that joining Odevo is bringing to its business. Reflecting its growing role in the Odevo group, the company has restructured its senior board with Duncan Rendall becoming Rendall & Rittner Group Chairman as well as Chairman of the Odevo UK board, and CFO Parimal Patel also becoming CFO for Odevo UK. Richard Daver becomes Rendall & Rittner Group CEO and a board member of Odevo UK, and Catherine Riva becomes CEO of Rendall & Rittner Ltd.
Duncan Rendall, Group Chairman of Rendall & Rittner and Odevo UK Chairman, commented: “We are delighted to welcome our new colleagues at Trinity Property Group to Odevo, another like-minded business that can see the far-reaching benefits of harnessing technology to improve standards of service. Like them, we are a people focused business, and our investments in technology will significantly improve the customer experience and our support to clients putting us at the forefront of the industry. And as the Odevo group continues to grow, we will collaborate and drive change to make this industry stronger together.”
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