Lomond Capital, the private equity backed property management company which is snapping up agencies right across the UK while allowing them to keep their own brand identities, has made a key appointment.

It is that of Michael Groves who becomes chief executive of the north of England and midlands operation.

He will seek to build on Lomond’s expansion in Manchester and Birmingham, while also targeting the purchase of agents’ businesses in key cities Leeds, Liverpool, Sheffield and Nottingham.

Groves founded Thornley Groves in Manchester in 1991 and created one of the most recognisable estate agency brands in the north-west with his fellow shareholder, Jason Watkin.

The pair sold a majority stake to Lomond Capital in 2013.

Groves’ new role will see him tasked with growing the existing businesses of Thornley Groves in Manchester as well as growing those of John Shepherd Lettings and Marwood Homes in Birmingham.

He will grow all of these businesses by acquisition.

Meanwhile, Watkins steps up to take the role of chief executive of Thornley Groves.

Lomond Capital, which was formed in 2010, has grown rapidly through acquisition. While chiefly interested in lettings and property management firms, it has also taken on agents with substantial sales businesses.

The firm now manages a rental portfolio in excess of £2bn, currently across Aberdeen, Edinburgh, Birmingham and Manchester.

It received private equity backing from MML Capital Partners last year to accelerate future expansion in the UK’s rapidly expanding residential rental property market.

Stuart Pender, Lomond Capital chief executive, said: “Since our acquisition of Thornley Groves in 2013, Michael and Jason were charged with the task of growing the business they founded, with the financial backing of Lomond Capital and the support of its group businesses.

“Already four businesses have been acquired and successfully integrated into the Thornley Groves’ operation and we are now looking to deploy Michael’s significant experience and skills across a broader region.

“Lomond is looking to maintain its rapid growth in Manchester and build on our presence in Birmingham.”

Groves said: “The Thornley Groves journey under Lomond has been incredible. Our business has more than doubled in size over the last 18 months through the consolidation that is sweeping across our industry.

“This is an ideal time for good-quality, regional sized estate agents, letting agents and property management agents to take advantage of the many benefits of the Lomond partnership programme.

“For those smaller players looking to exit, this is the best time in 20 years to achieve full value for their business while ensuring their employees, customers and clients remain in safe hands.”

Groves’ appointment follows that in January of Ivor Dickinson as Lomond Capital chief executive for London and the south.

Dickinson is scouting for businesses in Bristol, Oxford, Reading and along the south coast.

Below, Michael Groves