Two agents have been named in the top 100 firms backed by private equity with the fastest growing profits.
Foxtons, which is 13th in the Sunday Times list, grew its profits from £9.9m in 2008 to £31.8m in 2010.
Under chief executive Michael Brown’s leadership, the firm opened nine new branches between 2008 and 2010. While housing transactions have halved in the capital, Foxtons says it has weathered the recession.
It is backed by Bank of America and Mizuho, a corporate bank.
BC Partners, an American private equity firm, originally bought Foxtons in 2007 for £390m.
In 82nd place is Leaders, the rapidly expanding lettings chain which started as a single office in Brighton. Its profits have gone up to 27% a year from £3.4m in 2009 to £5.4m last year.
The firm is led by Paul Weller and has grown through acquisitions. It is backed by Bowmark, which reportedly ploughed an investment of £48m into the company in March 2010.
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Oh dear the anti agent loooonies will not like to see this!