Former Countrywide director Nick Dunning has bought the parent company of high street agents Townends and Regents for an undisclosed sum.
The purchase was made through his recently-established company Nick Dunning Associates, which he set up after leaving Countrywide where he was its commercial director.
His role there was to run its highly profitable lettings business, but he also operated an aggressively acquisitional programme, buying up 100 businesses during his tenure at the PLC.
Nick’s latest business purchase is of Badger Holdings Group, which has 26 branches in London and the Home Counties and two brands.
“The Badger Holdings Group is an extremely well run business with an excellent reputation and a solid record of profitability,” says Nick Dunning (pictured).
“It is a great platform from which to grow our business in London and the Home Counties.
“We will be looking for the management team to drive growth organically in all its business divisions but also through strategic acquisitions and expanding their branch footprint.”
Badger Holdings Group’s management team including CEO Seamus Kavanagh will be remaining “to drive the business forward”, says Nick Dunning.
Nick Dunning Associates has a sizeable fighting fund to buy up letting agents across the UK backed by a leading private equity investor.
Nick aims for his company to become a large-scale player in the letting agency sector and is “actively looking to acquire further lettings-focussed agencies across the UK”, he says.
“Nick Dunning Associates is open to working with established management teams who are prepared to stay with their business post acquisition and share in its continue growth.”