Stirling Ackroyd’s lettings book, with which it manages 1,400 properties, lies at the heart of the London agency’s acquisition by Nick Dunning Associates.
Although the six-branch Stirling Ackroyd operates across the sales and lettings arena, the acquisition - announced yesterday - is part of Nick Dunning Associates' bid to become what it calls “a new scale player in the lettings agency sector” by purchasing around 20 letting focussed businesses every year for the next five years in a buy-and-build strategy.
The firm says it is actively looking to acquire lettings focused agencies across the UK and is open to working with established management teams who are prepared to stay with their business post-acquisition and share in its continued growth.
This is the third acquisition for Nick Dunning Associates, following the acquisition of Adams Property in June and Badger Holdings Group in January.
Dunning set up his company last year with himself as chief executive, Graham Harrison as sales director, Matt Hewitt as commercial director and Julian Irby as chief financial officer. All previously worked together at Countrywide plc.
Dunning himself reportedly oversaw the acquisition of around 100 businesses during his time at Countrywide.