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Lomond is a network of some of the strongest regional brands and estate agency and lettings businesses across the UK.
We cover a range of some of the most attractive cities across the UK, from a property perspective, from Aberdeen in the north to Brighton on the South Coast.
Our regional businesses benefit from the opportunity to build the business via the on-going support for acquisitions, support on generating significant organic growth and the ability to rely on central resources in such areas as finance, operations, regulation, compliance, IT and Human Resources, plus the security which comes from being part of a larger well-funded group.
Existing Lomond Regions
The Lomond Group currently operates in Aberdeen, Birmingham, Brighton, Edinburgh, Hull, Leeds, Manchester, Sheffield and York. We are interested in acquiring further good quality estate agents and lettings businesses across all of these existing regions.
| Metric | Lomond | Linley & Simpson |
|---|---|---|
| No. regions | 5 | 1 |
| PuM | 10,476 | 10,000 |
| Acquisitions | 34 | 47 |
| Business Mix (% lettings) | 80% | 75% |
| No. Branches | 18 | 21 |
| AVG Rent | £862 | £725 |
| AVG Management Fee | 8.90% | 10.50% |
| FY20PF EBITDA | 4.9 | 5.0 |
| FY20 EBITDA margin | 24% | 28% |
New Regions
The Lomond Group are in discussions about extending into a number of new regions across the UK.
We are looking for larger good quality businesses to act as our regional “hub” in new regions. We
would then look to acquire a number of bolt-on acquisitions to grow these “hub” businesses.
Lomond provides central support to such businesses on acquisitions and integration together with
funding to allow the hub or foundation business to acquire other businesses in the region. Lomond
will then work with the foundation business to extend the range of services to offer the full end to
end service proposition delivered by our other regional businesses.
Selling Your Business to Lomond
Lomond offers the opportunity to good quality regional businesses to sell into one of our regional partnership businesses. The benefit of selling to Lomond is that you would be selling to a well-respected regional partnership brand, to a management Team that understands your region and to a group with a focus on caring for both your clients and staff during the transfer and beyond, as well as maximising returns to you as a vendor.
A significant number of business owners have decided to sell their business to Lomond over recent times, due to a number of the following reasons:
- change in personal circumstances, including retirement, illness, divorce or a desire to have a change of career;
- introduction of further compliance / regulation threatening the economics of smaller businesses;
- underlying threats to current income levels which smaller businesses are dependent on in such areas as tenant fees;
- introduction of new business models offering end to end services proposition – harder to deliver by smaller players;
- opportunity to take advantage of the multiples available in the market due to current appetite of Consolidators to acquire Lettings and Estate Agency businesses;
- opportunity which currently exists to exit value of the business at beneficial tax rates due to availability of entrepreneur’s relief.
Lomond as a Purchaser
Lomond can offer a number of significant benefits to you, your clients and your staff on the sale of your business to a Lomond Regional Partnership Business.
Clients
- Focus on delivery of customer service and client retention.
- Investment in development of staff and infrastructure to support market leading service and products.
- Peace-of-mind that the managing agent will always be at the forefront of regulations and any compliance changes.
- Security of a group with significant financial resources.
Staff
- Staff transfer to Lomond under TUPE regardless of whether a business or book purchase.
- Opportunity to work for one of the fastest growing and most innovative businesses in the sector.
- Opportunity to benefit from investment in training in the area of specialism.
- A wider opportunity for career progression within a growing business.
Shareholders
- Comfort in the knowledge that you are achieving competitive market value for the business
- Reassurance that our experienced acquirers provide a hassle free and fair sales process
- Peace-of-mind that your clients will be in the safe hands of experienced and qualified lettings agents
Lomond Sales Process
Lomond can work with one of our Regional Partnership businesses to complete an acquisition of a business from initial enquiry to completion within 12 weeks
Or standard Transaction process would include the following steps:-
- Sign non-disclosure agreement
- Complete Lomond information request
- Lomond make an offer
- Due Diligence
- Legals completed
- Completion of sale
Lomond Broader Services
Lomond’s business model allows for the widening out of services within a region to include the full range of services required by professional landlords, whether they be private or institutional investors. The business model is a “end to end” model for Professional and Institutional Investors and aligns with the services provided by our other regional businesses.