MML created a market leading business by facilitating a merger of PIE with competitor PSG in 2017. With MML’s support, the business has acquired and integrated the majority of PSG’s former franchisee base (~30 small businesses), creating a property search technology platform of scale.
Following closely on the heels of other recent successful technology-related investments in Roboyo, Altius and Arrow – MML is an investment partner of choice for fast growing companies in the new economy. MML’s model of partnering with management teams – providing bespoke financial investment and a global reach – is proving to be a potent mix in the alternative investment market.
Richard Mayers, Partner at MML, said:
“We are proud to have been part of PIE’s journey and are excited for the team. Dye & Durham were an obvious strategic home for PIE, and we expect the business to flourish under their guardianship. We wish the team the best of luck for the future.”
Matt Proud, Chief Executive Officer of D&D, said:
“We expect that the acquisition of PIE will support Dye & Durham's industry growth, as we continue to execute on our strategy of acquiring, integrating and operating core technology businesses in order to build on our expanding online platform,” said “As the coronavirus pandemic has shown us, in an increasingly virtual business world, the dependency on mission critical cloud-based software like PIE’s has never been greater, as more and more people work from home.”
The MML deal team consisted of Richard Mayers, Will Stewart and Bal Johal.