Leaders and Romans plan to acquire more lettings agents
Residential property group Leaders, along with its sister company Romans, has announced plans to acquire more lettings agents in 2017. The merged businesses have bought up a large number of firms over the last few years, but had recently been taking a break from this activity in order to observe the market.
However, in a statement Leaders and Romans announced they are ready to restart their acquisitions process, saying they are looking for quality lettings portfolios and businesses across all parts of the UK.
The companies are focusing specifically on certain areas of the country, namely the south, south-east, north-west and the midlands. However, the statement made clear that while these are the key geographic areas Lettings and Romans are concentrating on, they will consider any quality business in the UK.
Matthew Light, group acquisitions director at the estate agents, said: "2017 is set to be another exciting year for Leaders and Romans as we look to continue our growth. We are actively looking for quality lettings companies across the country.
"Anybody who is thinking about selling their lettings business should get in touch now so that we can consider if their firm meets our criteria. We may be interested in making an offer to acquire."
Over the last ten years, Leaders and Romans have acquired over 100 lettings agents of various sizes, meaning that many think of them as the preferred acquirers in the industry. Since merging in 2016, the pair has over 40,000 lettings properties on its books.
The two companies were acquired themselves by Bowmark Capital a few years ago. Leaders was purchased first in 2010 for around £48 million. Bowmark acquired Romans later on, in 2013, and reportedly paid over £50 million for the company.