Estate agency giant Leaders Romans Group (LRG) has bought seven-branch sales and lettings agency Lenwell operating across Bedfordshire, Hertfordshire, Buckinghamshire and Northamptonshire.
Seven-agency Lenwell was established in 1990 by Rob Wellstead (above) who is also the founder of estate agency leads management tech firm Callwell.
All of the Lenwell branches will now transfer to Leaders Romans Group along with 46 staff.
LRG says the acquisition, which The Negotiator understands has be in excess of £2 million, will give it new reach in five new markets within the four counties.
Following the sale, Wellstead is to become a consultant to LRG but not be involved any longer directly in the running of the Lenwell offices.
“I am very happy I have found a great company in LRG to take care of my business and staff in the future,” says Wellstead.
“We have achieved a great deal over the past 30 years, and it’s been an absolute privilege leading such an amazing group of people.
“Lenwell has been part of my family for all of my adult life – if I had my time again, I wouldn’t change a single thing.”
Matthew Light, Director of Group Mergers and Acquisitions at LRG, adds: “We are delighted to complete this acquisition and welcome yet another strong business to the LRG group.
“This fits into the LRG ethos of providing our customers with the best, and most trusted, local experts.
“I am also delighted that Rob has become a consultant to LRG, ensuring that his vast knowledge of the business is not lost.”