The Lomond Group has continued on the agency acquisition trail after backing its Thornley Groves brand to snap up Manchester-based Julian Wadden & Company.
The deal expands the acquisitive property group’s presence in the Greater Manchester and Cheshire area.
As well as its lettings and sales business, Thornley Groves also inherits a buoyant land and new homes specialism with more than 400 new build properties in its pipeline.
Julian Wadden & Company was launched 15 years ago and Thornley Groves will retain the established name and brand as well as its team of people and four branches in Didsbury, Heaton Moor, Stockport and Marple.
The deal will see Julian Wadden himself retire from the agency he founded in 2007 after a 25-year career in residential sales and lettings across south Manchester along with his wife Michelle Wadden, co-owner and HR director of the business since 2012.
The couple will now focus on rapidly expanding their existing build-to-rent business, whilst retaining strong links with their former firm as a landlord client.
Julian says: “It fills me with great pride to see how far the company has travelled since we opened our doors, growing from one person to a 60-strong team and becoming the market leader in these thriving communities.
“We were proud that when Thornley Groves was searching for quality agencies to join its business, it was impressed by what it saw in us.
“We both share a strong local heritage and proven track record, as well as teams brimming with knowledge, industry insight and high levels of customer service
Thornley Groves, chief executive Jason Watkin adds: “We are thrilled to join forces with a progressive agency of this calibre, and look forward to pooling the expertise and home-grown talent of both teams of people.
“This is an acquisition that hits all the high notes. Julian Wadden’s network of high street branches are a stellar strategic fit, giving us our first foothold along this prime geographical corridor.
“This southern belt is at the heart of Greater Manchester’s regeneration, has stimulated economic development, and continues to attract investment.”
Thornley Groves has now secured 11 acquisitions in little over a year – tripling the size of its business.
It represents the 28th acquisition for the Lomond Group, backed by private equity firm LDC, since the start of 2021.
The Lomond Group has brought together well-known agency names including Linley & Simpson, Thornley Groves, Brand Vaughan, Michael Jones & Company, and John Shepherd in England plus Stonehouse, Braemore, Fineholm and the recently-acquired DJ Alexander in Scotland.