Lomond has announced the acquisition of North Yorkshire estate and letting agent Joplings, marking the firm’s 60th acquisition since LDC’s investment in the business in 2020.
The deal also represents the 100th acquisition since the original business was founded in 2010.
The acquisition of Joplings, one of North Yorkshire’s oldest independent agencies, will see Lomond’s Linley and Simpson brand take over the business.
Linley and Simpson will take on all of the properties currently under management with Joplings, pushing it to in excess of 15,000 properties under management, with the brand also taking the existing Joplings sales pipeline.
Robert Hamilton, Lomond’s acquisitions director, commented: “We’ve embarked on an incredible journey since the early days of Lomond Capital and I’m immensely proud to have overseen the acquisition of 100 businesses to date, from Scotland to the South coast, all of which have been strategically important in realising our aggressive growth ambitions.
“The credit goes to my highly professional team and the market leading acquisitions process that we’ve implemented.”
Hamilton added: “For a seller, having your business acquired is an incredibly proud, life-changing event, that allows them to realise the value they’ve built through sheer hard work and determination. It’s an intensely personal experience and one that needs to be recognised, acknowledged and managed with great care and respect.
“As the acquiring business, we’re an integral part of this and it leads to very strong relationships, so much so that I was even invited to the wedding of one of our business sellers.”
Martin Elliott, CEO of Lomond Yorkshire, commented: “The acquisition of Joplings is one that has been ten years in the making and holds high strategic importance for the Linley and Simpson brand.
“We’re acquiring an extremely well-established and respected local business and, in doing so, we are cementing our position as the leading agent in the local area.”
