One of the UK’s longest-standing agency brands in the UK has been bought by LRG, the new name for what was the Leaders Romans Group.

How much LRG has paid for the company has not been disclosed but last year Chancellors turned over £26 million but made a loss of £1.5 million, up from a £348 million loss the year before.

Chancellors has been in business since 1807 after being established by James Cain and has 50 branches across West London, six English counties and several parts of mid-Wales and employs some 450 staff.

LRG’s purchase of Chancellors gives it a presence in both existing and new markets and the brand will be retained ‘due to its local strength in the areas within which it operates’.

The new areas for LRG are Mid Wales, Herefordshire, South Oxfordshire, and the Cotswolds.
Robert Scott-Lee, Managing Director at Chancellors, will continue with the business during the transition, ensuring a smooth handover and no job losses are expected as part of the integration. His father also led the company previously.

This is not the first time Chancellors has been bought. In 1987 it was acquired by Hogg Robinson but was later sold on.

Largest to date

Matthew Light, Group Mergers and Acquisitions Director at LRG, says: “The acquisition of Chancellors is our largest to date and a prime example of the type of business we are looking to acquire.

“We focus on acquiring prolific regional agencies with strong local reputations, established multi-branch networks, and significant lettings portfolios. Chancellors perfectly fits this profile, strengthening our market share and expanding our geographic reach.”

Michael Cook, Chief Executive Officer at LRG, adds: “Chancellors joining the LRG team is a fantastic way to start 2025 and a significant step in our five-year growth strategy. Chancellors is an established business, with a significant property management portfolio and a brand with great heritage.

“Their expertise perfectly complements our existing offerings, and we are particularly excited to establish a presence in new markets like Mid Wales, Herefordshire, South Oxfordshire, and the Cotswolds, expanding our reach and providing our services to a broader client base. We’re delighted to welcome the whole Chancellors team to the LRG family and look forward to a successful partnership.”