New national agency acquires 10 independents agencies in three months

19 April 2021 | Renting

New national agency acquires 10 independents agencies in three months

Linley & Simpson and Lomond Capital – which joined forces at the end of 2020 to create a new national agency group – says it’s made 10 acquisitions in the first quarter of the year.

These are across regions including Aberdeen, Edinburgh, Manchester, Birmingham, Brighton and Yorkshire. 

The new venture, underwritten by private equity firm LDC, says the acquisition programme in the past three months has exceeded expectations with Will Linley, group managing director of the Lomond Group, saying: “We have seen significant interest from agents keen to join our rapidly increasing network of good quality regional agencies.”

He says the strategy has been to take over well known local High Street names such as Linley & Simpson; Thornley Groves; Brand Vaughan; John Shepherd; Stonehouse and Braemore – which have  a combined portfolio of properties under management of over 23,000 – and to create “major hubs” in rental hotspots. 

Linley adds: “Each of our quarter one acquisitions has been both a strategic and geographical fit for our existing footprint. They have been completed across all our key heartlands – from Aberdeen to Brighton, and many other towns and cities in-between.

“We are actively pursuing a number of other acquisitions and are always keen to hear from other letting agents who may be considering selling both in these existing regions and in new regions.”

Lomond also recruited acquisitions manager Lucy Noonan, who was previously involved with acquisitions at LSL Property Services, having been operations director at Belvoir.
 

This post has originally been featured in Letting Agent Today.