Lomond has strengthened its presence in the North West after completing the acquisition of Edward Mellor’s lettings book.
Founded in 1983 in a single office in Denton, the business has grown to 140 employees across 12 offices and, today, is regarded as one of the best known estate agency businesses within the Greater Manchester area.
The deal, which is believed to have been brokered by Adam J Wlaker & Associates, will see Lomond acquire the firm’s letting arm which currently has around 900 properties under management, with the estate agency group driving the business forward under the Julian Wadden and Thornley Groves brands.
This latest deal is the third agreed by Lomond this year, following the acquisitions of Oakwood Homes in Kent and Uni2Rent in Nottingham.
The managing director of Edward Mellor, Peter Barlow, commented: “Edward Mellor is a fantastic business that’s family owned, and run, and it’s these values that we operate with at our core on a daily basis. We’re a people business and we do right by those people, whether they are our customers, or one of the 140 staff we employ.
“We are confident that Lomond is the ideal partner to take our Lettings business to new heights and to continue to support our staff and customers.
“Whilst it’s never easy to hand over a part of our business, we are excited about the opportunities on the horizon for our Estate Agency, Auctioneering and Financial Services Divisions, which are the heart of our business.
“This move will enable us to channel our time, resources, and management expertise into driving the technological transformation that the property sector urgently needs.”
Lomond’s CEO, Ed Phillips, said: “Edward Mellor is an outstanding business and one that still operates with true family owned values at its core, which is rare to find in this day and age.
“Make no mistake about it, by acquiring the lettings arm of the business, we’ve acquired a competitor within the Greater Manchester area and so this is a deal that strengthens our presence within the region considerably.”
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Read the orginal article: https://propertyindustryeye.com/lomond-strikes-third-acquisition-of-the-year-with-edward-mellor-deal/
