HMT undertook due diligence for Leaders, a regional independent business specialising in the letting and management of residential properties, on their acquisition of JSM Property Management Limited (“JSM”).
Paul Weller, Managing Director, has overseen Leaders’ successful strategy of growth by acquisition, acquiring and integrating branches and property portfolios for many years. Bowmark Capital, Lloyds TSB and RBS backed an MBO of Leaders in 2010, and since then, Leaders has continued this strategy with several acquisitions, exploiting a consolidating market.
Leaders’ latest acquisition, JSM Property Management Limited, is one of its largest acquisitions to date. JSM operates from six branches in East Anglia with an active tenancy base of circa 3,000 properties, giving Leaders a significant foothold in a new region.
Paul Weller commented:
“We are very excited about JSM joining Leaders; this is a significant milestone for our business. Not only is this a substantial acquisition – comprising of approximately 3,000 managed tenancies – it also provides us with a brand new region, advancing our expansion across East Anglia and taking us through the 50 branch barrier.
“It is our intention to develop this region further, in the same way we develop our existing regions, by acquiring businesses in those towns and cities where we do not yet have a presence, as well as acquiring portfolios that we can absorb into our existing branches.”
Matthew Light, Finance Director, commented:
“HMT did a great piece of work, highlighting the key issues and providing support throughout the investment process”
Andrew Thomson commented:
“Paul has an impressive track record in acquiring and integrating businesses and HMT were delighted to assist Leaders on this transaction. We look forward to working with Paul and the team again on the next acquisition.”