Lomond, one of the UK’s largest acquirers of estate and letting agency businesses, has continued to execute on its aggressive growth strategy, this week announcing its 55th acquisition in just three short years.

The firm’s latest move sees it acquire Xact Lettings Ltd, a prominent competitor within the Birmingham rental market, in a deal that will add further weight to its already established regional brand, John Shepherd.

Lomond’s John Shepherd brand will now acquire 100% of Xact Group’s lettings operations.

As a result of acquiring Xact’s letting book, John Shepherd will see its book increase to 8,000 properties under management, further cementing it as one of the leading letting agents within the Midlands region.

Ed Phillips, CEO at Lomond, commented: “The Midlands has been one of the strongest performing regional markets in recent years and has remained a strong area of focus for Lomond and our John Shepherd brand as we’ve looked to execute our ambitious growth strategy.

“Having identified Xact Lettings as a key competitor within the region, we’re delighted to now add the weight and expertise of the company’s lettings arm to the Lomond portfolio and this will only strengthen our presence as one of the leading companies within the Midlands market.”

The CEO of John Shepherd, Richard Crathorne, added: “The John Shepherd brand has long been established as one of the leading forces in the Midlands property market and we pride ourselves on our expert local knowledge, transparency and outstanding customer service.

“Our latest acquisition will only help us strengthen our position as one of the market leaders within the regional rental market and we look forward to helping even more landlords and tenants as the business continues to expand.”