Lomond continues its aggressive growth strategy with another acquisition

Ed Phillips

Lomond, one of the UK’s largest buyers of estate and letting agencies, continues to deliver on its aggressive growth strategy, this week announcing its 55th acquisition in just three short years.

The company’s latest move is to acquire Xact Lettings Ltd, a leading competitor in the Birmingham rental market, in a deal that will further strengthen its already established regional John Shepherd brand.

Lomond’s John Shepherd brand will now take over 100% of Xact Group’s leasing business.

The acquisition of Xact John Shepherd’s lettings portfolio will increase its portfolio to 8,000 properties under management, further establishing its position as one of the leading lettings agents in the Midlands.

Ed Phillips, CEO of Lomond, commented: “The Midlands has been one of the best performing regional markets in recent years and remains a strong area of ​​focus for Lomond and our John Shepherd brand as we look to deliver on our ambitious growth strategy.

“Having identified Xact Lettings as a key competitor in the region, we are delighted to add the weight and expertise of the company’s lettings division to the Lomond portfolio, which will only strengthen our presence as one of the leading companies in the Midlands market.”

John Shepherd chief executive Richard Crathorne added: “The John Shepherd brand has long been established as one of the leading forces in the Midlands property market and we are proud of our local expertise, transparency and exceptional customer service.

“Our latest acquisition will only help us strengthen our position as one of the leaders in the regional rental market, and we look forward to helping even more landlords and tenants as we continue to grow our business.”