Criterion thrives in pub sector upheaval
Sector upheavals will prompt trade to bring in back office support
More pub companies are expected to contract out their back office services with the launch of an expansion drive by Criterion Asset Management.
The company believes the ongoing upheavals in the sector will produce increased demand for its third party property services.
It has already grown its portfolio of clients to become involved in about 6,000 outlets - nearly a quarter of the UK's leased pubs.
The expansion drive has been put in the hands of a new director, Andrew Younger (pictured), who has joined from Bass Lease Company and Punch Pub Company.
He said: "We will be looking at developing new products and services which complement what we already do."
Criterion looks after back office services for pub groups, such as personnel management, payroll, credit control, rent evaluation and review, lettings and property repair and maintenance.
It hopes to develop in areas such as insurance services, which it already carries out for Unique Pub Company.
New clients include Voyager Pub Group, carrying out short-term estate management after Nomura Principal Finance Group bought the 1,000-strong estate from Bass.
It also looks after the back office support for pubs owned by investors under the enterprise investment scheme, including a number backed by City firm Merchant Place.
Criterion, which was formed in 1997, is headed by managing director Jonathan Naylor, who comes from a property background, and operations director Tim Crouch, who looked after pubs for Courage, Grand Metropolitan and Phoenix Inns.
Mr Naylor said: "We have lots of property expertise but we wanted to have more operational experience at a senior level, which is what Andrew brings."
Criterion runs the 844-strong free-of-tie estate of Wellington Pub Company, which is headed by Punch Group chairman Hugh Osmond. It also manages lettings of residential properties above some of Punch's pubs.
With strong links to Nomura, Criterion handles back office support for the bank's 1,200-strong Inn Partnership and Inntrepreneur Pub Company, which has about 500 outlets.
It also runs Phoenix, although all 150 of the former GrandMet pubs are expected to be sold by the autumn.
Mr Naylor said: "There's so much going on with disposals and acquisitions, and everyone will always have a tail end to their estate.
"We believe this trend will roll on, so we wanted to take our business on to the next stage to meet the requirements of the new pub companies."
