Thames Valley-based Romans has acquired a firm in Guildford, Surrey, while Connells has bought a lettings business in Stafford.
Both firms have made it clear that they are looking for more acquisition opportunities.
Romans’ purchase of Meldrum Slater Edgleys follows that of James Griffin in Bracknell, Berkshire, in May.
There have now been nine successful acquisitions by the group since 2013 when it gained a £12m finance facility from its bankers for more business purchases.
James Griffin’s Bracknell-based sales and lettings agency is now fully incorporated into Romans’ Bracknell branch, which has been established in the town since 1987.
In Guildford, Meldrum Salter Edgley will retain its name.
Michael Ginsberg, senior partner at the firm, said: “It was always going to be a difficult decision on whether or not to sell the business and inevitably one feels great trepidation about the process and the potential pitfalls. In the end, I need not have worried as the purchasers conducted matters in a straightforward and transparent manner.
“They have accumulated considerable experience in purchasing a number of other practices and I appreciated the calm and considered way in which they handled the negotiations and due diligence process.”
Peter Fuller, managing director of Romans Lettings, said Romans is actively looking to expand further into new locations. There are currently 23 branches in Berkshire, Buckinghamshire, Hampshire, Oxfordshire and Surrey.
Meanwhile, Connells has bought Cartrights in Stafford, meaning it has opened more than 100 lettings branches in the last 18 months.
The latest purchase is in line with the company’s expansion plans to double the size of it lettings network by the end of the year and its aims to enter new lettings markets as well as expand on its presence in existing markets.
Acquisitions director Mike Rowley said: “The rental market shows no signs of slowing down and we are seeking further acquisitions to grow and strengthen our business.”
Pictured are Michael Ginsberg, left, and Peter Fuller
Comments (11)
I am sure they will both be very happy together – as for the customers probably not but do these people care in a world where shareholder value has ridden roughshod over customer value
These acquisition handshakes are really becoming tedious. Do you think someone could perhaps try “Jazz Hands”
Or one where the selling partner is holding his cheque, rubbing his hands laughing and is seen running to the bank?
or the shell-shocked loyal staff looking betrayed and concerned
For some reason my computer does not let me like or dislike posts. Such a great comment had to log on with my mobile to give that a like!
Now I am not an agent, but it could be an excellent time to open one or two or TEN. Will anyone want to buy me out!
You know what they say… if you wrap **** up in Christmas paper, someone will eventually take it off your hands.
Try it – you never know.
Oohhh – the EYE Smutfilter is on DEFCON1!
Let’s try some alternatives…
5h!t
sh1t
5h1t
doo-doo
Hopefully one will pass undetected…
Look like it WORKED brother PeeBee. Another 5H1TTY comment from you
Wondered how long it would take to coax the rodent out of its hole.
You disappoint me – I like dragging things out.
You’re more a hairtrigger guy, obviously.
Ah, well – let the party commence!
Brother PeeBees.
Trust me it hurts like hell, especially when the sale was meant to ‘protect staff and offer them a future’ It simply doesn’t work out that way!
As I said to Geoff Core, it feels like taking a healthy pet dog to be put down.