We’ve heard you’ve sold the business.
Yes, Mount Street Holdings plc has been sold. There was an announcement on the Stock Exchange to state that, on 23rd Nov 2005, Mount Street Holdings plc was sold to Erinaceous Group plc. The companies within Mount Street Holdings plc that have been sold are CPM Residential Asset Management, CPAM Commercial Property Asset Management, Vita Insurance and Spring Grove Maintenance. All staff remain.

Who is Erinaceous Group?
Erinaceous Group plc provide clients in both the public and private sectors with a "one-stop shop" for services related to ownership, design, construction, management, insurance and maintenance of property. It covers a broad range of activities including services in the fields of residential lettings, building consultancy and housing management.

The Group commenced life with the acquisition of Haywards in 1999, an established management and building consultancy business. Since inception, the Group has made significant progress and is now a substantial provider in the property services and facilities management fields.

Central to the Group’s successful development has been the Directors' strategy of establishing a business capable of meeting the diverse requirements of private and public sector clients in an efficient and seamless manner. Its turnover up until 31 March 04 was £42million and the Group is listed on the London Stock Exchange.

How does this affect me?
Erinaceous Group plc is one of the largest property services and facilities management companies in the UK, offering the former Mount Street Holdings companies an exceptionally high level of support and backing. Erinaceous has grown substantially over the 4 last years, through upon acquisition and organic growth. They provide the ability to take the business to the next level.

At present, there are no plans to alter any working procedures, although services may become integrated in the future.

When will we be meeting Erinaceous Group?
It was not proposed that the Erinaceous Board meet our customers, unless specifically requested.

Why were we not consulted on the sale? This is the second time CPM and CPAM have been sold in 2 years.
It is normal business practice not to consult customers pre-sale. Over the last few years, the service sector has seen many mergers and acquisitions of larger companies and being industry-led, we are no different. The obvious synergies between Mount Street Holdings and Erinaceous Group meant that a merger of the two companies was a solid and advantageous business decision.

The enhanced size of the group means that it will be able to deliver better value, a greater level of support and a broader range of products and services for our customers.