Interview With Rob Mamuda

We caught up with Rob Mamuda from Alexander May to talk about his experience of selling his lettings business with the support of Atomic. He talked about some incorrect advice he was given by others and how Lucy and Atomic put things back on track. 

What Led to the Decision to Sell Your Lettings Portfolio?

A couple of years ago two things came together which made me think it was time to leave the industry.

I had a health scare and had got to a certain age in life, leading me to question if I wanted to do this for the rest of my life, or whether it was time to start enjoying the results of my hard work. That was my motivation for doing it.

How Did You Meet Lucy?

I went to a conference a couple of years ago at which Lucy was presenting to all the agents at the FIA.

She was speaking to a room full of businessmen, and we could see that she had a lot of empathy, we could see that she had a lot of knowledge, and she was completely upfront.

Everybody in the room, myself included, would be looking at wanting to exit or even just wanting a valuation on their business at some point so she resonated very highly with me right from day one.

In an industry with some less than trustworthy people I had found someone I could trust, someone I could work with, somebody who I related to.

It wasn’t just me, there were lots of people in the room who felt the same. So I took that information, put in my back pocket and walked away.

Then when the time came for me there was only one call I was going to make. That was how strong an impression she left with me. That was why I made the phone call and I’ve never regretted it.

What Did Atomic Add To Your Deal?

I already had a strong indication of who my buyer was likely to be. I live in the area, and I knew there was a particular company that was on the acquisition trail, they were a very good fit for my company and they were paying the right amounts for the right sort of portfolio.

So I told Lucy who the buyer was likely to be, and then she was the one who made the approaches and brought the deal on and looked after the deal all the way through to completion.

So while she didn’t find the buyer in this instance she did advise that my buyer would definitely be the right person to go with.

The massive contribution Lucy made was the advice she gave us through the process. There were some professionals who were giving us other advice and she said no, trust me, I think they are mistaken.

Initially, I didn’t, I listened to the others until I realised she was right! Taking the wrong advice initially nearly cost us the buyer, and certainly delayed us for six months.

If we had continued with the route we were told by others to take it would have given us a massive tax problem to deal with. Lucy told us this from the start, and when we realised she was right we had tell the buyer we weren’t ready, to get our house in order and start again, with Lucy’s support.

Another unscrupulous agent would have allowed us to plough on or just said, well that’s up to you.

It really was a wake-up call. Lucy knew all about it, and she did right from the beginning, but my other advisers made a mistake.

In the end, we got through, we managed to get the structure organised, and luckily the buyer was still around and interested. Lucy’s advice saved us hundreds of thousands of pounds in tax.

What Advice Would You Give Someone Considering Selling Their Business?

Find yourself a good agent you can trust, someone you can work with, someone who knows what they are doing.

Lucy is all of those things. I wouldn’t hesitate to recommend her because I know that she is trustworthy, I know that she will work on her client’s behalf, and I know that she’s got access to the whole of the market.

Since Atomic started Lucy has made big waves in her industry and amongst all the agents in the UK. If they didn’t know who she was two years ago then they certainly do now.

You know you are in safe hands, that’s the important thing. Most business owners don’t set their companies up for sale when they start, and they are too busy selling houses, letting houses, and managing staff to actually have the knowledge that they need to sell or even buy a company.

I couldn’t have wished for anything more, Lucy was always on hand, always there if I needed to ask a question, and always had the right answer.

My advice to anybody would be put your trust in Lucy, listen to what she’s got to say, and you won’t go wrong.