The acquisitions arm of LSL, LSLi, has acquired a significant shareholding in Thomas Morris estate agents which covers Cambridgeshire, Hertfordshire and Bedfordshire.
Four of the seven previous partners have now exited the business as a result of the major stake snapped up by LSLi, the holding company for several estate agency brands based largely in the Home Counties with a combined network of 57 branches made up of wholly owned and franchise branches, including Intercounty, Frosts, JNP, Goodfellows, Davis Tate, Lauristons, Lawlors, Hawes & Co and Thomas Morris.
Simon Bradbury (left), who along with Russell Sansby and Kevin Thomas, is remaining with Thomas Morris, keeping hold of an equity share, said: “Our experience with LSLi over the last few months has been extremely positive.
“What we’ve found most appealing about the whole experience is that we will continue to run Thomas Morris but we also now have the backing of the second largest estate agency group in the UK, who understand our business, and which means that together we will continue to invest in Thomas Morris.
“Most importantly the deal provides added security and additional opportunities for all the staff at Thomas Morris. We’re all really excited about the future.”
Another man feeling positive about the future direction of Thomas Morris is David Brown (right), Managing Director of LSLi.
“We are delighted to have acquired a majority shareholding in such a fantastic business,” he said. “This is the ninth independent estate agency acquisition for LSLi and it fits perfectly with our strategy of acquiring high quality and diversified businesses.”
He added: “LSLi continue to offer an attractive exit strategy for estate agency owners.
“Our nine brands now total 57 offices. Clearly this approach has proven to be attractive to Thomas Morris, allowing the partners to achieve their own personal objectives as well as enabling LSLi to continue its expansion.”