Acquisition helps Midlands agency giant hit 40 branch milestone

Two agents who own a big Newton Fallowell chain of offices in Lincolnshire have bought a big rival to increase their tally of branches to four.

Matt Holland and Ben Oglesbee (pictured LtoR) owners of Newton Fallowell’s Boston, Horncastle and Spilsby offices, have completed on the acquisition of Turner Evans Stevens (TES) in Skegness.

“We are delighted to have completed on this very large acquisition,” says Oglesbee.

“TES, which has now been rebranded as Newton Fallowell Skegness, first launched in 1999 so it was a very well-established business.

The former directors of TES, who have now left the business following the acquisition, are Gareth Evans, Philip Stevens and Rod Turner, all of whom established the business over 20 years ago but are now at retirement age.

Lettings portfolio

Oglesbee adds: “Matt and I were particularly attracted to it because it has a lettings portfolio of over 400 properties, and for some time we have been planning to grow the rental side of our businesses as there is huge demand for this.

“As part of this acquisition, we also took on a smaller TES office in Spilsby, which has now been incorporated into our local branch.”

The acquisition will see Oglesbee and Holland take on additional staff onto their payroll across both lettings and sales, doubling the size of their overall team.

David Spackman (pictured), MD of Newton Fallowell says: “I would like to congratulate Ben and Matt on this exciting acquisition, which will bring so many new opportunities to their business, particularly on the lettings side.

“I am also delighted to confirm that the addition of Newton Fallowell Skegness to the network means that [we] now [have] 40 offices across the East Midlands, which is another milestone in the history of the brand.”