Private equity firm Oakley Capital is reportedly considering a sale of Dexters that could value the estate agency at more than £500m, Sky News said over the weekend.
Barclays has been lined up to advise on the potential sale, though it is unclear whether the bank has been formally appointed. Oakley acquired a roughly 60% stake in Dexters in 2021 and has supported growth, including acquisitions like Marsh & Parsons and Life Residential to strengthen its London market position
Dexters, which started as a single branch in Twickenham in 1993 and has grown into a network of more than 100 offices across Greater London, including around 40 in central London.
Sources told Sky News that, while no decisions have been made on the timing or structure of any transaction, a valuation between £500m and £600m is considered realistic.
In the year to 30 September 2024 – the most recent period for which accounts have been filed at Companies House – Dexters reported underlying operating profit of more than £47m, up from just over £40m a year earlier. Revenue for the period rose to nearly £222m, driven by acquisitions and an increase in market share.
Dexters has been approached for comment.
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