Lomond Capital and Linley & Simpson £100m deal
In a supposed £100 million deal that includes injection of cash from LDC (private equity frim). Lomond Capital and Linley & Simpson among others had now partnered up so to form a stronger force between them to include a portfolio now to stand at over 20,000 properties across major towns and cities such as Leeds, Birmingham and Manchester.
Stuart Pender, group chief executive (Lomond Capital), was quoted as saying: “Market conditions in the private rental sector are well suited to continued growth through consolidation. We are consolidating fragmented regional markets, enhancing the proposition the sector offers to clients and maintaining a local, on-the-ground approach which brings significant benefits to landlords and tenants.
We will blend the best of both companies through this merger, which together with the backing of LDC and LGT Capital Partners will allow us to realise our ambitious plans for the UK’s residential lettings sector.”
Gareth Marshall, head of the North East at LDC, was quoted as saying: “From our partnership with Will and Nick over the past two years, we know the potential for ambitious businesses in this sector to grow quickly. We’ve supported them to make 18 acquisitions and we’re looking forward to helping the new group to expand quickly with its best-in-class multi-regional model.
The residential lettings market offers an attractive opportunity for geographical expansion and we’re confident that the combination of Linley & Simpson’s and Lomond Capital’s impressive management teams and approach will complement each other perfectly for further growth.”
Full article available on insidermedia.
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