Private equity firm LDC has backed the £100m transaction to merge Yorkshire-based Linley & Simpson and Lomond Capital.
The new venture has a combined portfolio of over 22,000 properties under management and major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Hull, Leeds Manchester, Sheffield and York.
The new group will now look to strengthen and extend its nationwide network through strategic acquisitions and organic growth.
Co-founder and CEO of Linley & Simpson, Will Linley, will join the board as group managing director, with a focus on delivering the group’s plans to grow at pace and at scale.
He will look to replicate the business model that has seen Linley & Simpson complete 18 acquisitions across its Yorkshire heartland in just two-and-a-half years.
He said: “Uniting our businesses will enable us to work as one to unlock, and then fast-track, a raft of new opportunities for expanding our footprint throughout the UK.
“Linley & Simpson’s track record in setting up in new locations, and scaling up in existing ones, will form the blueprint for adding momentum to the new group’s acquisition ambitions.
“Combining our strengths equips us with a platform to build a brand new property powerhouse in the sector. It also reflects the confidence we share in our industry’s future.
“We are all looking forward to pooling our collective expertise, and co-creating a new future together where we can pursue and win new business opportunities as one company.”
As part of the combined leadership team, his fellow co-founder Nick Simpson steps up to the role of CEO of Yorkshire.
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