PurpleBricks Appoints Bartlett as Interim CEO Amidst Restructure
Advisor - People | Feb 10, 2025 | Aim Group
PurpleBricks, a prominent hybrid real estate agency in the UK, has named Stuart Bartlett as its interim CEO. This follows the recent departure of Sam Mitchell, who was instrumental in the acquisition of PurpleBricks by Strike in June 2023. Mitchell's tenure included a strategic shift in business model and significant workforce reductions. Bartlett comes from an automotive background and holds stakes in Strike, aligning him closely with PurpleBricks's operational interests. Owned by Freston Ventures, Strike under Andrew Harrison's leadership has also seen other key appointments, signaling strategic restructuring at PurpleBricks.
Sectors
- Real Estate
- Investment
- Automotive
Geography
- United Kingdom – PurpleBricks is a UK-based company and the changes in leadership pertain to its operations within the UK market.
Industry
- Real Estate – PurpleBricks operates within the hybrid real estate sector, offering services for buying and selling properties.
- Investment – The acquisition of PurpleBricks by Strike and the involvement of Freston Ventures highlight the investment activities within the sector.
- Automotive – Stuart Bartlett's background is in the automotive sector, which may influence his leadership style at PurpleBricks.
Financials
- 1 – The nominal acquisition price that Strike paid to acquire PurpleBricks, agreeing to take on its debts.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PurpleBricks | Target Company | Company | A UK-based hybrid real estate agency that was acquired by Strike. |
| Strike | Bidding Company | Company | Strike acquired PurpleBricks in June 2023 and is backing the company's restructuring. |
| Freston Ventures | Investor | Company | An investment vehicle owned by Sir Charles Dunstone, currently owning Strike. |
| Sam Mitchell | Former CEO | Person | Former CEO of PurpleBricks and co-founder of Strike, who left following a restructure. |
| Stuart Bartlett | Interim CEO | Person | Newly appointed interim CEO of PurpleBricks with a background in the automotive industry. |
| Andrew Harrison | Executive Chairman of Strike | Person | Executive Chairman of Strike, involved in the strategic management and restructuring of PurpleBricks. |