Urban Splash founders sell 24 per cent to managers

The founders of property developer Urban Splash are to sell off almost a quarter of the company’s equity to its management team and have agreed a refinancing deal with three banks worth £125m.

Chairman Tom Bloxham and chief executive Jonathan Falkingham are selling 24 per cent of the shares to seven of its most senior staff, who will be given the option of buying between one and five per cent for an undisclosed price.

SOURCE: Crain’s Manchester BusinessUrban Splash founders sell 24 per cent to managers –