Lomond Group has become the largest lettings and estate agent in Scotland after completing its 24th acquisition in 2021.
DJ Alexander is the latest leading property firm acquired by Lomond Group which now manages more than 30,000 properties across the UK, with major hubs in private rental markets including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Leeds and Manchester.
The acquisition, funded by Lomond’s private equity partner LDC, strengthens the Group’s presence in the Scottish central belt by bringing the property portfolio to 9,500 in Scotland.
DJ Alexander will continue to operate under its existing name and all 104 employees will join the ranks of Lomond Group, increasing the Group’s total headcount to approximately 250 in Scotland and 1,000 throughout the UK. DJ Alexander’s founder, David Alexander, will be leading the Lomond business in Scotland as Chief Executive.
Consolidating “fragmented regional markets”
As part of the acquisition, Edinburgh and St. Andrews based agency, Braemore, as well as the Edinburgh branch of recently acquired Fineholm business, will also be consolidated into the DJ Alexander brand.
Stuart Pender, Chief Executive of Lomond Group, said: “DJ Alexander is a highly respected agency in the Scottish central belt with a reputation for excellence in the industry. We are delighted to bring the brand and its people into the Lomond Group, significantly strengthening our presence in Edinburgh and Glasgow. The acquisition emphasises our focus on consolidating fragmented regional markets to enhance the proposition our sector offers to clients while maintaining a local, on-the-ground approach which brings significant benefits to landlords and tenants.”
Managing Director at DJ Alexander, David Alexander, added: “Anyone who has ever worked with me over the last 40 years knows how driven and passionate I am. I thank them from the bottom of my heart in helping to establish a trusted and recognisable brand across central Scotland. I will take the same drive and passion to the Lomond Group and look forward to playing my part in establishing it as the UK’S number one agent.”
Lomond Group’s creation was backed by LDC, the private equity arm of Lloyds Banking Group, in December 2020 when Lomond Capital and Linley & Simpson merged. The private equity firm continues to work closely with the management team to support Lomond Group’s successful buy and build strategy.