In the Northern and Western parts of the city of Yorkshire, a Leeds-based estate agency business having eleven branches is expanding further by acquiring a counterpart within the same city. This was possible because of the £10m investment provided by the private equity firm named LDC which supported the former’s expansion plans.
Founded 20 years ago by Will Linley and Nick Simpson, Linley & Simpson employees 180 staff employees across the 11 branches. Furthermore, this partnership manages a sizeable portfolio of more than 5,800 pieces of property and also generates a turnover greater than £9m so far.
The investment provided by the private equity firm LDC will also cover developing the firm’s technology which in turn will improve their services towards tenants, sellers, landlords, and property finder services.
The co-founder and managing director of Linley & Simpson, Will Linley mentioned that the company has achieved significant growth by successfully completing 31 acquisitions over the last 15 years. He also said that the company has expanded well into North and West of Yorkshire, and at the same time remained committed to their unprecedented services as a top-tier managed services provider for their clients.
Will Linley also said that the company, with the help of the private equity investor, aims to further advance the growth and increase the number of properties they manage from 6000 up to 8000 over the coming three years. This would further benefit the company by bringing their unrivaled services to a larger range of customers within the region.
The personnel from LDC who were involved in this transaction were Gareth Marshal, Ben Snow and Director at LDC in Leeds, John Garner. Marshal will soon join the board as a non-executive director and Peter Chappelow, who was the previous Managing Director at Country Holidays, will serve as the non-executive chairman.
Marshal said that the Leeds based estate agency business has built an impressive reputation as a top-tiered professional in the residential property services. Linley & Simpson has a dedicated and hardworking management team which places the customer in the main focus while creating strategies. This is the way to success for any business and is easier said than done so far. With the team’s hard work and dedication, the estate agency business feels confident about their growth plan. This team in business is what makes or breaks their overall success potential. Having confidence in the team is considered as a good sign so far.
This deal is LDC’s Yorkshire and North East Team’s third new investment within the last two months. During the same time, the company generated significant returns from Team17’s £217m IPO. They also supported ZyroFisher’s acquisition of the Royal Velo France which was a part of their internal acquisition strategy.
LDC was advised by Grant Thornton Corporate Finance, Womble Bond Dickinson, and KPMG Tax.
The Financial due diligence was fulfilled by Grant Thornton.
The commercial due diligence was provided by Deloitte.
As for Linley & Simpson, TLP and Freeths were the advisors.
Santander was the banking facilities provider and was advised by Gunnercooke.