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Agencies & People

LRG continues its energetic M&A effort in London with purchase of Northfields

Industry corporate has bought the four-branch West London agency for an undisclosed sum from its founder Richard Palfreeman, who is to step down.

Nigel Lewis

estate agency northfields lrg

Leaders Romans Group (LRG) has bought a London estate agency, its first acquisition since itself was snapped up by City investment firm Platinum Equity in January.

The acquired agency is four-branch sales and lettings firm Northfields that CEO Richard Palfreeman (main picture, second from left) founded in 1986. He is to step down following a handover period.

Northfields has branches in Ealing, Ealing Broadway, Pitshanger and Shepherds Bush.

LRG says the acquisition will strengthen its presence in the London region following the acquisition of Portico in October last year.

It also fills a geographic territory gap between Portico and Gibbs Gillespie in West London, complementing the recent acquisitions of Orchards in Ealing and Thorgills in Brentford.

LRG family

Matthew Light imageMatthew Light (pictured), Group Mergers and Acquisitions Director at LRG, says: “We are thrilled to complete our first acquisition under Platinum’s ownership and look forward to welcoming the Northfields team to the LRG family.

“We continue to pursue our M&A strategy to service new areas, including the London region.”

Palfreeman adds: “I’d like to thank the Northfields team for their ongoing hard work and support which has enabled us to grow to a successful four-branch business.

“Our recognised brand name made us an attractive prospect for buyers, but we chose to sell to LRG based on their strong reputation in the industry and ambitious growth plans.

“Their team have been a delight to work with and the whole process from start to finish has been completed very smoothly. I look forward to seeing the exciting future of the company under the LRG leadership.”

March 4, 2022

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