LDC has exited its investment in Lomond, the UK's leading lettings and estate agent platform, while reinvesting alongside ICG to support further growth and regional expansion.

Information on the Target

Lomond is the UK’s premier lettings and estate agency platform, which has undergone significant transformation and growth in recent years. LDC, a private equity investor that is part of Lloyds Banking Group, has exited its investment in Lomond, while simultaneously reinvesting alongside new investor ICG, the founding Chairman, and the management team. This transaction marks a pivotal moment in Lomond's growth journey, underlining its potential to thrive in the competitive property market.

Since being backed by LDC in 2018, Lomond has evolved dramatically. The platform saw a significant merger in 2020 with Linley & Simpson and Lomond Capital, which allowed them to amplify their market presence. Lomond has achieved impressive milestones, such as completing 65 acquisitions and expanding its workforce from 600 to a remarkable 1,900 employees. As a result, the company has increased the properties it manages from 22,000 to over 50,000, positioning itself as one of the fastest-growing estate agency networks in the UK.

Industry Overview in the UK

The UK property market is robust, characterized by an ever-increasing demand for both rental and purchase properties. With a growing population and shifting demographics, the need for professional letting