The fast-growing Lomond Group, backed by private equity cash, has snapped up another independent.
Lomond’s John Shepherd brand, which operates throughout the Midlands, has bought the 550-unit lettings arm of Solihull-based Smart Homes.
The deal – John Shepherd’s third in as many months – has propelled the rental portfolio across its five-branch network past the 3,000 milestone.
Staff from the former Smart Homes Lettings team have transferred to John Shepherd, and Smart Homes will now focus exclusively on its sales, new homes, land and commercial departments.
John Shepherd chief executive Richard Crathorne says: “Amid the ongoing challenges of the pandemic, we are thrilled to kick-start 2022 on such a positive note, and carry over our acquisitions momentum into the New Year.
“We share the same footprint at Smart Homes Lettings so this injection of new properties has dovetailed seamlessly into our existing High Street branches, with the majority being managed by our Shirley and Solihull teams.
“We also inherit new staff brimming with the same local knowledge, industry insight, and high customer service standards on which we pride ourselves. As an agency proud of our 30-year Midlands roots, we look forward to drawing upon this home-grown talent.”
John Shepherd - which operates branches in Birmingham, Solihull, Shirley, Harborne, Sutton Coldfieldand Cannock - became part of the Lomond Group in 2020 when Lomond Capital and Linley & Simpson joined forces to co-create a new national lettings and sales business.
It had been a key strand of Lomond Capital’s business since 2014.
The group now has a combined portfolio of over 30,000 properties under management, and major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Hull, Leeds, Manchester, Sheffield and York.
Its brands include Linley & Simpson, Thornley Groves, Brand Vaughan, Michael Jones & Company, and John Shepherd in England; plus Stonehouse, Braemore, Fineholm and the recently-acquired DJ Alexander in Scotland.
The Lomond Group has the backing of private equity firm LDC and says it has access to further acquisition investment provided by LGT Capital Partners.