Wolf’s in Shepherd’s clothing after agency merger

Birmingham property firm, John Shepherd, has expanded its presence in the city with the acquisition of Wolf’s Lettings and Estate Agency.

The latter is an established property business operating in both Harborne and the city centre. The acquisition comes ahead of the opening of John Shepherd’s new flagship branch on Colmore Row next month.

The terms of the deal have not been disclosed but it is thought to have been funded by John Shepherd parent, Lomond Capital, which secured a £37.5m warchest earlier this year.

Wolf’s s manages more than 750 properties and its integration will bring the number of properties managed by John Shepherd in the Birmingham area to 2,000 in total.

The deal will see John Shepherd extend its footprint into the key Harborne market and it will rebrand Wolf’s office in the town to reflect the acquisition. The branch’s nine-strong workforce will be retained.

Wolf’s city centre business, including its seven employees, will also join the John Shepherd and will be based at the latter’s new branch when it opens in June.

The John Shepherd brand includes Marwood Homes, both John Shepherd Estate Agents and Lettings, and Solihull business, Letting Places, which it acquired in October 2016.

The deal is John Shepherd’s third acquisition since merging with property group, Lomond Capital, in 2014. It also marks the parent company’s second acquisition in recent weeks since securing the £37.5m of capital funding.

Richard Crathorne and Gary Black, joint chief executives of John Shepherd Lettings and Estate Agents said: “We have admired the Wolf’s business for many years and we are therefore delighted to welcome it and the Wolf’s staff into the John Shepherd family. Wolf’s brings with it a high quality lettings and sales operation and a reputation for strong customer service.”

Lomond Capital chief executive, Stuart Pender added: “Not only is Wolf’s an excellent business bringing a strong lettings portfolio and high quality staff but it also fills in the remaining gaps in John Shepherd’s geographic coverage in the area.

“We are very excited about our new Birmingham city centre office. John Shepherd’s strength and depth now makes it the number one lettings and estate agency brand in Birmingham. We have a strong pipeline of further acquisitions across the country.”

Radovan Vuckovic, the former owner of Wolf’s, said: “The John Shepherd and Wolf’s businesses are an excellent fit. I knew Lomond was the best option to take my business forward and continue its growth. I know the Wolf’s team will relish the new opportunities that working with Lomond’s local firm, John Shepherd will bring. I will continue growing the Wolf’s block management business independently and look forward to working with John Shepherd in future.”