Lomond Group has announced its second Kent-based acquisition as it continues its extensive expansion in the South East.

The latest deal involves independent estate and lettings agent, Oakwood Homes.

Lomond itself was acquired by London-based private equity investment firm ICG for £450 million in December.

And just 48 hours after the ICG announcement, Lomond made another significant takeover in the London area – sales and lettings agent Kinleigh Folkard & Hayward (KFH).

Hoovered up

To date, it has hoovered up over 65 estate agencies, whilst also establishing a ‘hub and spoke’ structure, with key agencies becoming regional centres and smaller agencies added as linked firms.

Oakwood Homes was founded by Andrew and Teresa Dickinson, and has been operating across Kent for two decades. It currently manages around 900 properties.

Lomond says Kent is a key area of interest as part of its ambitious growth plans in the South East of England.

It also bought Kent-based Miles & Barr in October for an undisclosed sum.

Number of approaches

Andrew Dickinson, MD at Oakwood Homes, says: “Teresa and I are extremely proud of what we’ve achieved at Oakwood Homes over the last 20 years, but we feel the time has come to embark on a new chapter in our lives.

“Although we’ve had a number of approaches, we believed it was essential to ensure that any transition made would be in the best interests of both our dedicated team and loyal clients.”

Ed Phillips, CEO at Lomond (main picture), says: “We believe that with Oakwood Homes joining the group we have acquired two of the very best estate agency businesses Kent has to offer.”