It’s being reported that Lomond Group, the chain of lettings agencies owned by a division of Lloyds Banking Group, is likely to be snapped up by a private equity firm.
Lomond Group, reported to be valued at some £100m, was created from the merger of Lomond Capital and lettings operator Linley & Simpson in 2021,. Since then it has used its funding to acquire some 100 small agencies. Its latest, earlier this month, has been Yorkshire independent firm Joplings.
Lomond now boasts 1,200 employees, 42,500 properties under management and some 106 branches under various brand names – Brand Vaughan, John Shepherd, Thornley Groves, Dale Eddison, Julian Wadden, Matthews of Chester, DJ Alexander, Linley & Simpson, Beal, Hardisty & Co, and Michael Jones & Co.
Now Sky News says a pack of private equity firms is circling Lomond Group, with four bidders said to be competing.
Almost half of agents “unable to cope with workload”