The highly acquisitive Leaders Romans Group has bought a five-branch sales and lettings business, Scott Fraser, for an undisclosed sum. Meanwhile, the purchase of another business has not yet been announced as expected.
Scott Fraser was established in 1998 by previous owners David Blythman, Andrew Greenwood and Peter Scott.
Lettings-focused, it has four offices in Oxford and one in Witney.
All the Scott Fraser branches will remain under its current branding, while all 67 employees, including the senior management team, will transfer over to Leaders Romans.
The owners, after a short handover period, will leave the business following completion, but remain as consultants.
Matt Light, group mergers and acquisitions director, said: “We are excited to welcome another strong business into the group and are delighted to have another 67 valued employees join LRG.
“We are confident that business will continue as normal for our acquired Scott Fraser clients, and that they will continue to benefit from the excellent customer service that they have come to know and expect.”
In only December of last year, Scott Fraser itself made an acquisition, that of Abbey Rentals in Eynsham, which it integrated into its Witney office.
The acquisition was described as the “first of a number” planned for Scott Fraser, which said it was actively seeking discussions with other local businesses.
The purchase of Scott Fraser by the Leaders Romans Group is likely to be followed by similar announcements shortly.
However an announcement over another acquisition, involving a very significant purchase, has not yet materialised as expected.
Wouldn’t be a surprise if the additional purchase not yet announced was the Harrison Murray Brand in Leicestershire and Northampton a good fit and only yesterday it was reported that their parent company The Nottingham Building Society had written off the 4 million goodwill purchase figure which they were holding on their books. Just my opinion.
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Well done Andrew and David. You quickly built a fabulous ground-breaking business. Hope you got a great price from Romans. Very well deserved. Enjoy. R.
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Increased borrowing at Leaders Romans adding to the mountain of debt that is the cancer growing and leading to the private equity game of pass the parcel. I feel for the staff and customers of Scott Fraser who will see much higher attrition rates.
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