The well-known Lenwell chain, with seven branches, has been acquired by the Leaders Romans Group.
Lenwell was established in 1990 with the opening of its Luton office: now it manages thousands of properties across seven offices in Bedford, Milton Keynes, Hitchin, Northampton, Dunstable and Aylesbury, as well as Luton.
Some 46 of Lenwell’s current employees will transfer over the LRG while former owner Rob Wellstead will take up the position of consultant to LRG.
LRG, via its Leaders brand, is already active in Milton Keynes and Bedford, but this acquisition allows the Leaders Romans to establish itself in five new markets.
Matthew Light, LRG’s director of group mergers and acquisitions, says: “We are delighted to complete this acquisition and welcome yet another strong business to the LRG group.
“We are equally excited to have gained more than 40 expert staff members. This fits into the LRG ethos of providing our customers with the best, and most trusted, local experts.”
This acquisition forms part of a substantial growth plan for LRG, which the company insists it will pursue notwithstanding the pandemic.
Earlier this year, the company expanded into Sheffield, and further throughout Lincoln, with the opening of virtual offices in those cities.
LRG says it’s aiming to build upon this transaction, and is continuing to identify further acquisition opportunities nationwide.
This post has originally been featured in Letting Agent Today.