Another independent lettings agency has been acquired by a fast-expanding giant with plans to become a prominent national agency network.
Lomond Group’s John Shepherd brand has bought the lettings and sales business of Clothier & Day, a family-run independent based in Stafford.
This adds a further 130 properties to the John Shepherd 2,500-plus rental portfolio - and adds to Lomond’s vast 27,000 portfolio.
Richard Crathorne, chief executive of John Shepherd, says: “We already share the same footprint so this injection of properties will dovetail seamlessly into our Midlands network of High Street branches.
“The acquisition is also a great people fit. Jamie shares the same local knowledge, industry insight, and high customer service standards on which we pride ourselves.
“As an agency proud of our local roots, we are thrilled to retain and draw upon this expertise.”
He adds: “Other acquisitions are being primed by John Shepherd and the wider Lomond Group to accelerate our growth momentum. These will enable us to launch in new locations and scale up in existing ones at pace.”
John Shepherd, which operates branches in Birmingham, Solihull, Shirley, Harborne and Cannock, became part of the Lomond Group at the turn of the year when Lomond Capital and Linley & Simpson joined forces to co-create a new national lettings and sales business.
The group now has a combined portfolio of over 27,000 properties under management, and major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Hull, Leeds, Manchester, Sheffield and York.
The Lomond empire consists of individual brands Linley & Simpson, Thornley Groves, Brand Vaughan, Michael Jones & Company, John Shepherd in England, plus Stonehouse and Braemore in Scotland.
The Lomond Group has the backing of leading private equity firm LDC, with access to further acquisition investment provided by LGT Capital Partners.