An independent agency with a lettings portfolio of 400 units has been snapped up by franchise holders in the Newton Fallowell empire.
Ben Oglesbee and Matt Holland, owners of Newton Fallowell’s Boston, Horncastle and Spilsby offices, have completed on the acquisition of Turner Evans Stevens in Skegness, adding a fourth office to their business portfolio.
“We are delighted to have completed on this very large acquisition. TES, which has now been rebranded as Newton Fallowell Skegness, first launched in 1999 so it was a very well-established business” explains Oglesbee.
“Matt and I were particularly attracted to it because it has a lettings portfolio of over 400 properties, and for some time we have been planning to grow the rental side of our businesses as there is huge demand for this. As part of this acquisition, we also took on a smaller TES office in Spilsby, which has now been incorporated into the Newton Fallowell Spilsby branch.
“This acquisition resulted in us taking on 12 existing staff members, split across lettings and sales, so we have doubled the size of our team. The existing team is great, and apart from the outgoing directors, customers will not notice any changes and it will be very much business as usual, although as the portfolio is so large, we are already recruiting for new team members to introduce even more expertise and skills.
“With regards to sales, Matt and I have run three busy, award-winning Newton Fallowell sales offices for several years now, and in doing so have developed a very successful business formula. That being the case, any small changes that we do make at Newton Fallowell Skegness will simply aim to sprinkle some Newton Fallowell magic on the services offered, which will benefit all our clients, past and future.”
David Spackman, managing director of Newton Fallowell, adds: “I would like to congratulate Ben and Matt on this exciting acquisition, which will bring so many new opportunities to their business, particularly on the lettings side. I am very proud of them and know they will take full advantage of the many future opportunities that this acquisition will bring.
“I am also delighted to confirm that the addition of Newton Fallowell Skegness to the network means that Newton Fallowell now has 40 offices across the East Midlands, which is another milestone in the history of the brand.”