Two major south of England agency have merged in what they describe as a “transformational deal.”
Brand Vaughan, part of the expanding Lomond Group, and Michael Jones & Company have merged to co-create a major sales and letting operation across Brighton and Hove, Worthing, and along the South Coast.
The two Sussex agencies will retain their own distinctive brands, branch networks, and teams of staff within the one company; together they will manage a rental portfolio of more than 4,000 properties.
Will Linley, Lomond’s group managing director, says: “We are thrilled to welcome a market-leading agency of Michael Jones’ calibre to our rapidly-growing network.
“It strengthens and broadens our presence across Sussex, which is a prime location for further business growth.
“We are actively exploring acquisition opportunities in the county to expand our lettings and sales footprint across its most sought-after places to live and work.”
Brand Vaughan - whose original Cambridge Residential Lettings business launched in the late 1990s - operates four established offices on the South Coast.
Michael Jones & Company, which is marking its 30th anniversary this year, operates out of six branches.
Tom Ghibaldan, chief executive of Brand Vaughan, says: “This is a transformational deal that is a great strategic and geographical fit for both agencies and our people. 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.
“Both companies are already market leaders in our respective locations, with enviable reputations built up over years of hard work and commitment to our customers. For that reason, both brand names will remain in place, whilst being operated behind the scenes as one company.”
And Michael Jones, chairman of the agency he founded in 1991, says: “This is a milestone moment for two like-minded, Sussex born-and-bred agencies. Both sets of teams have strong Sussex roots, enjoy the same traditional values, and share a passion for properties and the people who live in them.
“Drawing on that synergy, joining forces is very much a natural progression. It equips us with a strong platform on which to expand further through organic growth and acquisition, and ensure we remain first choice for our customers.”
Lomond Group was created in January this year 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.
The group includes Brand Vaughan; Linley & Simpson; Thornley Groves; John Shepherd; Stonehouse and Braemore.
It has major hubs across England and Scotland including Aberdeen, Birmingham, Brighton, Edinburgh, Hull, Leeds, Manchester, Sheffield and York.