LDC backed the creation of Lomond Group, a new national lettings and estate agency group, in a £100million transaction to merge Lomond Capital and Linley & Simpson.
Lomond Group has a combined portfolio of over 30,000 units under management and major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Hull, Leeds Manchester, Sheffield and York. It brings together some of the UK’s strongest high street letting and estate agency brands including Linley & Simpson, Thornley Groves, DJ Alexander, Brand Vaughan, John Shepherd, Stonehouse and Braemore.
We will blend the best of both companies through this merger, which together with the backing of LDC will allow us to realise our ambitious plans for the UK’s residential lettings sector.”
Before the merger, Linley & Simpson was backed by LDC and had grown significantly by adopting an ambitious acquisition strategy across the Yorkshire region. Since LDC’s investment in June 2018, the business has made 18 acquisitions and doubled its portfolio from 5,000 to 10,000 properties.
LDC has been a great supporter of our strategy to grow through acquisition. This transaction is a continuation of our approach to building our business while retaining our successful local approach.”
Since the merger, the group has completed more than 25 acquisitions to further strengthen its regional footprint across the UK.
This included the group becoming the largest lettings and estate agent in Scotland after acquiring DJ Alexander. The move, which was supported by LDC, brings Lomond Group’s portfolio of managed properties to 9,500 in Scotland, and significantly strengthens its presence in the Scottish central belt.