Lomond Capital, the rapidly expanding property group, has announced its latest purchase – that of Wolf’s Lettings and Estate Agency, a Birmingham property business operating in Harborne and the city centre.

The price has not been disclosed.

Wolf’s manages more than 750 properties, bringing the number of properties managed by Lomond’s Birmingham operation, John Shepherd, to 2,000 in total.

The acquisition, which also includes Wolf’s estate agency and land and new homes divisions, sees John Shepherd extend its footprint into the key Harborne market.

It will retain and rebrand Wolf’s Harborne branch and its nine-strong team of employees.

Wolf’s city centre business, including its seven employees, will join the John Shepherd offering at its new city centre branch when it opens next month.

The deal is the second since Lomond Capital completed a fund raising process last month, providing the group with a £37.5m warchest.

Lomond Capital chief executive Stuart Pender said: “Not only is Wolf’s an excellent business bringing a strong lettings portfolio and high quality staff, but it also fills in the remaining gaps in John Shepherd’s geographic coverage in the area.

“We have a strong pipeline of further acquisitions across the country and more approaches every week.”

Richard Crathorne and Gary Black, joint chief executives of John Shepherd, said: “We have admired the Wolf’s business for many years and we are therefore delighted to welcome it and the Wolf’s staff into the John Shepherd family.”

Radovan Vuckovic, former owner of Wolf’s, said: “The John Shepherd and Wolf’s businesses are an excellent fit. I knew Lomond was the best option to take my business forward and continue its growth. I know the Wolf’s team will relish the new opportunities that working with Lomond’s local firm, John Shepherd, will bring.

“I will continue growing the Wolf’s block management business independently and look forward to working with John Shepherd in future.”