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Written by rosalind renshaw

Barbon Insurance Group, parent to Letsure and Homelet, has acquired competitor Rentshield.

The firm, which has a strong customer base across the South-West of England, was established five years ago and handles 60,000 tenant references a year.

Managing director Gary Abraham stays with the business that he founded.

He said: “This is a great opportunity for Rentshield to benefit from the investment and management expertise of a bigger, well-respected organisation with expertise in the lettings sector, whilst also being able to continue to operate autonomously from our Devon offices.”

Martin Oliver, Barbon’s CEO, said: “Although part of our lettings division, Homelet and Letsure operate as competing businesses. As a result, they have driven up service standards and are now widely recognised as market leaders.

“The acquisition of Rentshield will reinforce Barbon’s unrivalled position at the top of the lettings industry.”

Comments

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    Lets hope that they keep running them as genuinely competing businesses though, sound like the choice for us and our clients could (in time) suffer from a monopoly if three of the bigger ones are under one ownership and that’s just for now as they are clearly well funded enough and minded to expand through acquisition.

    • 17 November 2010 10:57 AM
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