Following the recent funding injection from MML Capital at the end of July, fast growing property Management Company, Lomond Capitalhas secured a significant foothold in Birmingham with the acquisition of leading agency John Shepherd Lettings, for an undisclosed sum. John Shepherd Lettings has 1,050 properties under management.
The strategic expansion into the vibrant Birmingham lettings market comes in the same month as another deal in Scotland which sees Lomond’s Aberdeen-based Stonehouse team expand into St Andrews by taking on the rental portfolio from solicitors and estate agents, Pagan Osborne. Stonehouse now has 2,000 property assets under management.
Lomond is now responsible for managing a residential property portfolio of 8,700 properties worth £1.8bn billion across four UK cities.
These deals are the latest developments in Lomond Capital’s strategy to build a regional network of strong Property Management business in the UK. It has now established itself as a leading property letting business in Edinburgh, Aberdeen, Manchester and Birmingham and is planning to extend into Leeds later this year and the South East of England early in 2015.
MML portfolio company Optionis Group has recently completed another bolt-on acquisition to its Clearsky Accounting division, acquiring the accountancy business of Bridgewood Financial Solutions. The Bridgewood business provides accountancy solutions to publicans and pub companies in the UK, including a number within the Punch Taverns and Enterprise Inns groups. The deal means that these bespoke accountancy services will now be delivered by specialists at ClearSky Accounting, which already serves more than 300 publicans and pub companies. In addition, through ClearSky Business, pub clients will also have access to a wider range of services, such as payroll, tax, HR and employment law advice.