Leaders Romans Group (LRG) has bought 13-branch independent estate agency Gibbs Gillespie for an undisclosed sum.
The purchase is the latest in an extraordinary run of acquisitions and mergers in recent months within the industry, and is LRG’s largest to date and includes branches across Middlesex, Hertfordshire and Buckinghamshire.
The Gibbs Gillespie name will be retained by LRG and the jobs of its 144 full-time and 49 weekend staff will not be affected, although founders James Gibbs and Paul Gillespie are to step away from the business following a transition period.
LRG says it want to grow the Gibbs Gillespie estate agency network, and retain branches where both brands operate.
Paul Gillespie comments: “We are proud to have served our local area with market-leading property advice for over 30 years. We launched Gibbs Gillespie to set the new standard for property agents, and we are confident it will continue to do so under the LRG umbrella. There is an exciting future ahead for the business”.
James Gibbs says: “I have always admired Leaders Romans Group and realised many years ago how similar we are. I am confident the joining of Gibbs Gillespie and LRG will be a formula for an impressive and formidable group”.
Kevin Shaw (pictured), Group Managing Director of the Estate Agency Division at LRG, says: “Our ‘keeping it local’ ethos aligns perfectly with what Gibbs Gillespie stands for, and I look forward to working with the great people that are joining LRG from the business”.