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Private equity-backed Lomond Property Agency Group is to be put up for sale.
Sky News reports that LDC, the private equity arm of Lloyds Banking Group, has hired bankers from Clearwater International to oversee the sale of Lomond Group, which has been aggressively expanding through a series of acquisitions. I understand.
Industry sources say proceedings are expected to begin in the coming months and should value Lomond well over £100m.
Lomond Group was formed in 2021 through the merger of Lomond Capital and Linley & Simpson, creating a business that manages 22,000 properties.
Lomond, which has acquired more than 50 companies across the UK since its inception, currently has major bases in Scotland, Yorkshire, Manchester, Birmingham, Exeter and the South Coast.
The group trades under several well-known brands including DJ Alexander, Hardisty & Co., John Shepherd, Michael Jones & Co., Thornley Groves, Dale Eddison, Julian Wadden, Linley & Simpson and Matthews.
EYE contacted LDC, but the company declined to comment.