Leading London estate agency Dexters has been revealed at the purchaser of online lettings agency Howsy following several weeks of speculation.
Howsy’s founder and CEO Calum Brannan (pictured) announced it had been acquired last month, naming only a ‘large estate agency chain’ as the firm involved as the finer points of the contract were thrashed out. He is to remain with the new title of managing director.
Under the new arrangement with Dexters, Howsy will continue to work for their private and build-to-rent landlords and will share their cutting-edge digital technology with its new owner.
Dexters says the acquisition of Howsy forms a key step in the implementation of its strategy to open further offices, acquire smaller competitors and widen its digital activities and channels.
The company, armed with a multi-million pound expansion fund provided by Oakley Capital last year, has been snapping up several London firms in recent months including Roy Brooks, Douglas Martin, Peter James and Sebastian Roche.
Andy Shepherd, CEO of Dexters (pictured) , says: “In February 2021 we announced a strategy of growth through acquisition of competitors and expanding the group’s digital activities.
“This acquisition of Howsy marks a key step in the implementation of this plan. Increased digitalisation of our London lettings business using Howsy’s innovative “smart tech”, will help Dexters scale up our residential lettings service whilst maintaining our excellent property management and tenant care.”
A year ago almost to the day Howsy announced it would break even by 2023 but, despite handling some 6,000 tenancies last year, was unable to secure funding to carry on until then. The agency which was founded in 2016 initially as NoAgent, employs 75 people.