Estate Agency Group Backed by Lloyds Banking Group’s Private Equity Arm Up for Sale
Lomond Group, a well-established estate agency group backed by the private equity arm of Lloyds Banking Group, is being put up for sale in the latest sign of corporate activity within the sector.
According to industry sources, LDC, the private equity arm of Lloyds Banking Group, has hired bankers from Clearwater International to oversee the sale of Lomond Group. The process, which is expected to kick off in the coming months, is predicted to value Lomond at well over £100m.
Lomond Group was formed in 2021 through the merger of Lomond Capital and Linley & Simpson, creating a business with a portfolio of 22,000 properties under management. The company boasts a strong presence in major cities such as Aberdeen, Birmingham, and Leeds, and operates under well-known brands including Thornley Groves, Braemore, and John Shepherd.
Speculation has been growing about a potential bid for Foxtons, a London-listed estate agent, prompting the company to add bankers from Rothschild as its financial advisers in preparation for a potential bid. It is expected that a number of other estate agency chains will also change hands in the coming months.
When approached for comment, a spokesperson for LDC declined to provide any further details at this time.
The sale of Lomond Group is expected to attract significant interest from potential buyers, given its strong market presence and successful track record. The estate agency group’s sale is seen as a strategic move by LDC to capitalize on the current surge of corporate activity in the sector.
