Birmingham letting firm acquired in agencies 55th Deal

Credit: Lomond

Lomond, an estate and letting agency business, has announced the acquisition of Xact Lettings, marking its 55th acquisition in just three years.

The acquisition of Xact Lettings, a key player in the Birmingham rental market, will further strengthen Lomond’s regional brand, John Shepherd.

With this acquisition, John Shepherd will take over 100% of Xact Group’s lettings operations, expanding its portfolio to 8,000 properties under management.

Lomond CEO, Ed Phillips, said: “The Midlands has been one of the strongest performing regional markets in recent years and has remained a strong area of focus for Lomond and our John Shepherd brand as we’ve looked to execute our ambitious growth strategy.

“Having identified Xact Lettings as a key competitor within the region, we’re delighted to now add the weight and expertise of the company’s lettings arm to the Lomond portfolio and this will only strengthen our presence as one of the leading companies within the Midlands market.”

CEO of John Shepard Richard Crathorne, said: “The John Shepherd brand has long been established as one of the leading forces in the Midlands property market and we pride ourselves on our expert local knowledge, transparency and outstanding customer service. Our latest acquisition will only help us strengthen our position as one of the market leaders within the regional rental market and we look forward to helping even more landlords and tenants as the business continues to expand.”