Leaders keeps up its acquisition momentum...

09 April 2010

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Written by rosalind renshaw

Leaders, the lettings chain in the south, has opened a new branch – its 43rd – through an acquisition of LD Property Management in Basingstoke, Hampshire. It bought LD Property Management from Katie Russell.

The acquisition follows Leaders’ management buy-out in which the company restructured with a £48m management buy-out backed by Bowmark Capital. The restructure enables Leaders to continue with its ‘buy and build’ strategy which will see it expanding across new territories.

Leaders’ managing director Paul Weller said: “This latest acquisition further increases our market dominance in Hampshire, where we now have ten well-established and successful branches.”

As part of the deal, Leaders acquired the Basingstoke branch of LD Property Management but intends to relocate to larger premises.

Weller, who is the son-in-law of Leaders’ (and ARLA’s) founder Neville Lee, said his firm continues to look for other acquisition opportunities. He said he was keen to talk to letting agency owners thinking of selling.

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