Independent Agencies Tumble - Lomond's second acquisition this week

The relentless acquisition programme of the private equity-funded Lomond Group continues apace with another acquisition announced today - the second this week.

Once again it’s an independent that disappears as Lomond expands its footprint across Hampshire and Surrey 

The deal will see Lomond acquire the lettings and sales arms of Charters Estate Agents Ltd, which will involve the current owner, Rob Mott, retained in a senior capacity. 

Charters has 10 branches stretching the length of the M3 from Southampton to Farnham, with an estimated portfolio of 2,800 properties under management. 

Lomond is going to retain the Charters brand with the group claiming it will take its expansion strategy into the South West.

Lomond chief executive Ed Phillips says: “Charters is a first-class business and the investment made in both the brand and its branches in recent years is clear to see, so we’re delighted to finally complete one of our biggest acquisitions to date.  

“In doing so, we believe our presence within the area will be significantly elevated and this deal will allow us to form an impenetrable base of operations from which to continue our expansion. I look forward working closely with Rob Mott and welcoming the whole Charters team into Lomond and continuing theirs and our successful journeys together. 

Meanwhile Mott comments: “The Charters business has made several impressive acquisitions of its own in recent years and our hunger for growth via expansion fits perfectly with Lomond’s vision. So we feel that this was a natural path to take and we’re looking forward to driving the business forward even further with the support of Lomond behind us.”