It's reported that the Lomond estate agency group, which is heavily backed by private equity and which has expanded through serial acquisitions, is to be sold off.
Sky News understands that LDC Private Equity Investment Firm has hired bankers from Clearwater International to oversee a sale of Lomond.
Sky says: “A process is expected to kick off in the coming months, and should value Lomond at well over £100m, according to industry sources.”
Lomond Group was created from the merger of Lomond Capital and Linley & Simpson in 2021, a deal which established a business with 22,000 properties under management.
It has subsequently made 53 acquisitions in three years, often heralded with a fanfare of publicity, although many of the acquired agencies have been modest in size and operating over local areas.
Now it has some 42,500 properties under management, with about a quarter in Scotland - the largest group under the DJ Alexander brand.
Lomond's website claims the company has 1,200 people across 12 brands from Aberdeen to Brighton.
Its brands are Brand Vaughan, Dale Eddison, DJ Alexander, Hardisty & Co., John Shepherd, Julian Wadden, Linley & Simpson, Michael Jones & Co., Thornley Groves, and Matthews of Chester.
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Thats some income multiple @ £100m. Going to be a brave Board that signs off that acquisition, there is a reason they are looking to sell, the Goose wont get any fatter than it is now, Lomonds acquired income will have already started to leach.
Be worthless in a few years time!
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