Dexters to buy Douglas & Gordon?

Dexters will acquire the sales arm of Douglas & Gordon (D&G), which went into administration last week, if the rumours are to be believed.

After EYE exclusively revealed that D&G went into administration last Friday, speculation is rife that Dexters plans to buy the well-established London-based estate agency.

Foxtons sold the sales operation of D&G to its CEO James Evans in February last year, just ten months after it bought the business go for £15.5m.

D&G’s property sales division was loss-making when the deal went through, with Foxtons primarily interested in its profitable letting capability.

EYE has been contacted by several sources claiming that Dexters will buy the sales arm of D&G, with a deal likely to be agreed in the coming days.

But while there is no doubting the fact that the D&G brand is highly attractive, there is no clear evidence that Dexters will purchase the business.

EYE understands that a number of well-established estate agencies, believed to include Dexters, are potentially interested in learning more about what the business has to offer.

The appointed administrator, Grant Thornton UK LLP, told EYE that it is “continuing to carry out their statutory obligations”, and that includes entertaining interest from interested parties.

However, given that Dexters is unlikely to be interested in keeping the D&G brand, it may not be likely that the firm will buy the business, as the finances do not appear to add up, without the letting business on offer.

And so while bids may be tabled for D&G in the coming weeks, we do not think Dexters will be among the main players – on this occasion.

The company, which completed the acquisition of Marsh & Parsons last month, has secured major financial backing from Oakley Capital with a growth strategy of opening further offices and building market share through the purchase of several competitors in recent month, and that includes David Birkett in Primrose Hill, which was bought last week.


Dexters acquires another well-established agency


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One Comment

  1. Robert_May

    Makes 100% perfect sense! I would not want to be Foxtons if that happened. A motivated executive and staff with a score to settle, both  firms sharing a common background and strategy lead by one of the very best I ever came across!


    Do it!




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