Based in Horsforth, Leeds, Linley & Simpson was founded 20 years ago and employs 180 people.
It has 11 regional branches, manages a portfolio of more than 5,800 properties and generates a turnover of more than £9m.
The deal sees LDC back the existing management team with a £10m investment to drive its acquisition strategy as well as support technology developments to enhance its focus on delivering the best possible service to landlords, tenants, buyers and sellers.
Will Linley, co-founder and managing director of Linley & Simpson, said: “Having completed 31 acquisitions in the last 15 years, we've achieved significant growth. We've expanded into North and West Yorkshire while remaining committed to exceptional customer service, establishing the business as a leading managed services provider for our customers.
“Through our partnership with LDC, we aim to boost this growth and increase the number of properties we manage from 6,000 to 10,000 over the next three years, bringing our market-leading services to a wider range of customers across the Yorkshire region.”
The transaction was led by investment directors Gareth Marshall and Ben Snow, and director John Garner at LDC in Leeds. Gareth will join the board as a non-executive director and Peter Chappelow, previously MD of Country Holidays, will join as non-executive chairman.
Gareth Marshall, investment director at LDC in Leeds, added: “Linley & Simpson has built an enviable reputation as a leading specialist in residential property services. Led by Will and Nick, the business has a strong and ambitious management team that puts the customer at the forefront of its business strategy. With this level of focus and the team's vision we're confident they will realise their growth plan and continue to go from strength-to-strength.”
John Garner, director and head of LDC in Yorkshire and North East, said: “Linley & Simpson is exactly the type of business we look to back - ambitious, determined and with a clear growth strategy. We're excited to be working with the team on the next phase of its growth journey.”
LDC was advised by Grant Thornton Corporate Finance (Richard Goldsack, Jim Whittaker, Duncan Morpeth, John Haygarth), Womble Bond Dickinson (Simon Pilling, James Cooke, Catherine Willis), and KPMG Tax (Bradley Keast, Mark Lockey). Financial Due Diligence was provided by Grant Thornton (Dan Rosinke, Dennis Sorbie) and Deloitte carried out Commercial Due Diligence (Charles Bates).