An independent agent has received a £10m investment from a private equity investor.

Linley & Simpson, based in Leeds, has received the funding from LDC and will use it for acquisitions.

The firm was founded by Will Linley and Nick Simpson 20 years ago, and today employs 180 people in 11 branches, manages a portfolio of over 5,800 properties, and has a turnover of some £9m.

Linley said: “Having completed 31 acquisitions in the last 15 years, we’ve achieved significant growth.

“We’ve expanded into North and West Yorkshire while remaining committed to exceptional customer service, establishing the business as a leading managed services provider for our customers.

“Through our partnership with LDC, we aim to boost this growth and increase the number of properties we manage from 6,000 to 10,000 over the next three years, bringing our market-leading services to a wider range of customers across the Yorkshire region.”

The transaction was led by investment directors Gareth Marshall and Ben Snow, and director John Garner at LDC in Leeds.

Gareth Marshall, investment director at LDC in Leeds, will join the board as a non-executive director, and Peter Chappelow, previously managing director of Country Holidays, will join as non-executive chairman.

Marshall said: “Linley & Simpson has built an enviable reputation as a leading specialist in residential property services.

“Led by Will and Nick, the business has a strong and ambitious management team that puts the customer at the forefront of its business strategy.

“With this level of focus and the team’s vision we’re confident they will realise their growth plan and continue to go from strength to strength.”

Santander will continue to provide banking facilities.