The march of Newport’s Paul Fosh Auctions and Lettings shows little sign of abating after it acquired the rental business of the city’s John Newell Estate Agents for an undisclosed sum.

The auctions and estate agency outfit snapped up Everything Lettings in January and the firm says that this latest deal will more than double the size of its lettings business and that more acquisitions are on the horizon.

PERFECT FIT

Paul Fosh (main picture, right, with John Newall), owner and founder of Paul Fosh Auctions, says: “The acquisition of the lettings business of well-established John Newell Estate Agents is a perfect fit for us as the business covers Newport and surrounding areas. The acquisition will allow our already very healthy lettings business to grow even further.”

Fosh says that the new clients will benefit, as the firm’s existing ones do, from the complete Paul Fosh package.

We’re definitely in the market for making further acquisitions.”

And he adds: “We’re definitely in the market for making further acquisitions of lettings business which we feel are the right fit. We welcome approaches from lettings businesses looking to be acquired.

“We envisage seeing further expansion in this side of the business in 2023 through acquisition as well as organic growth. We’re looking to massively expand this side of the business over the coming years.

ORGANICALLY

“We have been growing organically over the past four years. We’re now keen to scale up. Lettings is a scalable business, so we’re on the lookout now to acquire suitable similar businesses to help us grow. It’s advantageous for a business to operate at a certain scale as this allows staff to specialise.

“We are looking to consolidate our position in south Wales by increasing the density of our activities here as well as at the same time reaching out into newer areas across the Severn, to Bristol and the west country.”