Nicola Ponsford, owner of Northwood Cheltenham, has completed her third acquisition in five years after securing the letting division of Adams Estate Agents in Winchcombe.
The agency previously bought David Grundy in Cheltenham in 2019 and Charterhouse in Cheltenham a couple of years later, both of which are letting agents.
“We had actively been looking for another acquisition for some time and are delighted to have successfully completed on the deal,” said Ponsford.
“When the opportunity was presented, we jumped at it. We thought it would make a good investment because it was a well-run business, and strategically it is a great way to grow our portfolio and get our foot in the Winchcombe market,” she continued.
Ponsford explained that she sees acquisitions as key to expanding her agency operation.
“Creating organic growth can be quite tricky these days as the marketplace is incredibly busy and there are so many agents,” she said. “An acquisition brings increased revenue, plus new recommendations, and referrals, which further boost business.”
“Throughout the process we were guided by the acquisitions team at central office, in particular the acquisitions director who is very helpful and knowledgeable and always at the end of the phone if needed,” she continued.
Ponsford’s family has a long association with Northwood Cheltenham, as her mother originally started the business in 2004.
She added: “My mother sold everything she had, came to an area she didn’t know and into an industry she’d never previously experienced.
“In 2007 when I was 23, I gave up my sales job in Nottingham to help support the business and I’ve never looked back. I absolutely loved growing the business together and building relationships with clients by giving that personal touch you get from a family-run establishment.
“The business was officially signed over to me in 2010, which shows that a franchise can be an asset that not only benefits the original owner but also future generations too.
“Being part of a Northwood franchise means you have the backing of a national company with a community feel. I know that if I were ever to pass the business down to my own daughter she would also be supported and welcomed into that family.”
Reflecting of Ponsford’s latest acquisition, Northwood MD, Phil Gee, said: “I am delighted that Nicola has completed on her third acquisition. Nicola is young, dynamic, highly professional, and runs a very good business. She is also extremely ambitious, and I wish her and the team at Northwood Cheltenham every success as they continue to grow the business and expand awareness of the brand in the Winchcombe market.”
