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9:17 am, April 15, 2008
Eddisons buys parts of Erinaceous

By Simon Binns

Chartered surveyors firm Eddisons has bought the property management, facilities management and landlord and tenant teams from collapsed property services firm Erinaceous, which was placed into administration yesterday.

The Manchester office of Eddisons is based in Bow Chambers on Tib Lane, and the company, which also has offices in Leeds, London, Bristol, Birmingham and Glasgow, has said that the management teams will continue to operate “in order to provide a seamless transfer of services to all their clients.”

Erinaceous had looked to buy Eddisons last summer, for around £10m, but the firm is now being run by administrators KPMG after running up debts of £250m.

Talks are ongoing with outside buyers and the management of individual businesses regarding further business sales. The commercial property arm of the company employs around 550 staff.

Eddisons managing director, Nigel McDonald, and director Richard Roe recently completed a management buyout of the company from its shareholders, for an undisclosed sum.

Comments? sbinns@crain.com