LDC-backed Lomond Group creates the largest sales and lettings agency in Brighton and Hove in a ‘transformational deal’
6 Jul 2021
6 Jul 2021
Brand Vaughan, part of LDC-backed lettings and estate agency group Lomond, has merged with Michael Jones & Company to create the largest sales and lettings agency across Brighton and Hove, Worthing, and along the South Coast.
The Sussex agencies will retain their brands, branch networks and staff to manage a rental portfolio of more than 4,000 properties.
Brand Vaughan has four branches across Brighton, Kemp Town and Hove, while Michael Jones & Company has branches in Worthing, Lancing, Goring-by-Sea, Findon, Broadwater and Rustington.
Will Linley, Lomond’s Group Managing Director, said: “We are thrilled to welcome a market-leading agency of Michael Jones’ calibre to our rapidly-growing network across England and Scotland.”
Tom Ghibaldan, Chief Executive of Brand Vaughan, added: “This is a transformational deal that is a great strategic and geographical fit for both agencies.
“We can now work together and take advantage of almost five decades of award-winning expertise, market insight and local knowledge to drive customer service improvements and lead industry innovation.”
Leading mid-market private equity firm LDC backed the creation of Lomond Group in January 2021, in a £100m transaction. The move saw Linley & Simpson and Lomond Capital join forces to create a new national lettings and estate agency group capable of delivering rapid growth.
Lomond Group has since made 14 acquisitions, increased its portfolio of properties to more than 25,000 and grown its network in key rental markets across the UK.
Gareth Marshall, Head of the North East at LDC, said: “Lomond Group has quickly become one of the country’s fastest growing estate agency groups, underlining why an acquisitive growth strategy is an effective way to drive market consolidation and expand across different UK regions.”
Before backing the group’s creation in January 2021, LDC backed Linley & Simpson and helped grow the business through an ambitious acquisition strategy – making 18 acquisitions and doubling its portfolio from 5,000 to 10,000 properties since 2018.
LDC continues to work closely with its portfolio companies to help them scale through acquisition. The private equity firm is currently supporting two thirds of its existing portfolio to pursue an acquisitive growth strategy.