A group of private equity firms is “circling” to buy the Lomond Group, according to a Sky News report.
ICG and Searchlight Capital Partners are among the buyout funds considering formal bids for the estate agency group, the report said.
The sale process for the business, currently owned by LDC, the private equity arm of Lloyds Banking Group, has entered its second round, according to City sources cited by Sky.
A Sky insider said that four bidders remained in discussions to buy the company. The valuation of Lomond is expected to exceed £100m.
Lomond Group was formed in 2021 through the merger of Lomond Capital and Linley & Simpson, creating a business that now manages 22,000 properties.
The group has purchased more than 50 companies across the UK since forming, now has key locations in Scotland, Yorkshire, Manchester, Birmingham, Exeter and the South Coast.
The group trades under several well-known brands, including DJ Alexander, Hardisty & Co., John Shepherd, Michael Jones & Co., Thornley Groves, Dale Eddison, Julian Wadden, Linley & Simpson and Matthews.
