We have advised LDC and the shareholders of Lomond, the UK's leading lettings and estate agent platform, on securing a new partner and investment from ICG. The transaction marks an exit for investors LDC, who will also reinvest in Lomond alongside new investor ICG, the founding Chairman and management.
The transaction will support Lomond’s continued growth strategy of further consolidation through M&A in its existing markets and provide additional capital to drive expansion into new regions.
Lomond is a leading property management services provider to the UK lettings and sales market and one of the fastest-growing platforms in the UK with over 50,000 properties under management. The business has over 1,900 employees and has been recognised by a number of industry workplace awards. Lomond has completed over 65 acquisitions since 2021 and is a leading consolidator in the UK lettings agent market.
Recently recognised in the Sunday Times Best Workplace 2024 awards, Lomond’s growth and success is thanks to its centralised model of providing the best systems and the support of specialist people in its management team, HR, finance, marketing, and operations. Lomond offers the country’s leading independent estate agencies the opportunity to retain their local brand presence and provide them with a platform for growth within their region.
This is the second time our team has worked with Lomond, having advised LDC on backing the 2020 merger of Lomond Capital and Linley & Simpson, a transaction that created a new national lettings and estate agency group.
More about the process
Throughout the early stages of the process, the team undertook detailed preparation to create comfort around market resilience and cyclicality using a data-led approach, as well as benchmark Lomond against comparable markets with attractive consolidation opportunities and strong valuations. Continued acquisition activity from Lomond throughout the process provided sufficient comfort in management’s ambitions for future growth, with the company selecting ICG as the most suitable investor to support the company to realise these plans.
