Major London agency Dexters has acquired the lettings business Howsy, which handles the property management of 6,000 units across the country.
Dexters has some 70 offices across London and under the new deal Howsy will continue the management and links with its existing landlord clients, while sharing its technology with Dexters.
Meanwhile Dexters will continue with its own extensive lettings portfolio - it works with over 30,000 landlords and facilitates more than 28,000 property transactions across London per annum, many to landlords.
In February 2021, Dexters announced a partnership and major financial backing from Oakley Capital with a growth strategy of opening further offices, acquisition of smaller competitors and also expanding the group’s digital activities in order to allow Dexters to deliver its services via multiple channels.
The agency says the acquisition of Howsy forms a key step in the implementation of this strategy, alongside new office growth announced in 2021 as a result of new partnerships with estate agents Roy Brooks, Douglas Martin, Peter James and Sebastian Roche which has further boosted Dexters’ market share in London residential sales and lettings.
Andy Shepherd, Dexters chief executive, says: “In February 2021 we announced a strategy of growth through acquisition of competitors and expanding the group’s digital activities. This acquisition of Howsy marks a key step in the implementation of this plan. Increased digitalisation of our London lettings business using Howsy’s innovative 'smart tech', will help Dexters scale up our residential lettings service whilst maintaining our excellent property management and tenant care.”