It’s being reported that a prominent independent agency is to be snapped up by the fast-growing Leader Romans Group.
Isle of Wight agency Hose Rhodes Dickson is being bought out by LRG according to a report on the Island Echo news website; HRD itself has yet to confirm the sale.
The Island Echo says it understands that the 32 year old Hose Rhodes Dickson will become part of the agency giant next month.
HRD has eight branches on the Isle of Wight - in Newport, Cowes, East Cowes, Ryde, Bembridge, Shanklin, Ventnor, Freshwater, and Bembridge - and staff at the company were informed of the takeover at the end of last week.
The report says it’s unclear whether there will be any closures or redundancies, and whether or not the HRD Auction Rooms is part of the takeover.
In January this year Bowmark Capital sold Leaders Romans Group, one of the UK’s largest property services groups, to another private equity operator, Platinum Equity.
LRG was formed from the merger of two Bowmark portfolio companies, Leaders Lettings and Romans Group, in 2016. It specialises in residential property lettings, sales and associated professional services including planning and surveying.
The group has a nationwide network of 210 branches and offices, and manages over 62,000 properties across the UK.