Leaders has this month acquired Derby’s leading letting agent - IMS Lettings Limited - in its biggest acquisition deal to date.
The acquisition, which completed on 17th June, follows Leaders’ recent purchase of Nottingham property sales and lettings firm PWR in April and significantly extends Leaders’ branch network in the East Midlands.
IMS has been established for over 10 years and is the dominant letting agent in Derby, Duffield, Belper, Borrowash and Long Eaton. It enjoys an excellent reputation in Derby and the surrounding towns, and is known for providing excellent customer service and expertise.
All the staff have joined Leaders whilst the vendor, Chris Griffin, has exited to focus on other business interests.
Commenting on the sale of IMS, Mr Griffin said: “I am confident that the business I have built over the last 10 years will have a secure and successful future as part of Leaders. In choosing a company to sell to it was crucial to me that my clients and staff would be well looked after and that the business would continue to be run in line with the high standards I have set and maintained over the last decade.
“I know that with Leaders there will be many benefits to my staff who will have excellent opportunities to develop their careers. My clients will continue to receive an excellent service whilst also having access to a broader range of property services in many more locations. This is an exciting new chapter for the business and I’m looking forward to seeing how it develops under Leaders in the coming months and years.”
Leaders’ acquisitions director, Matthew Light, said: “This acquisition represents a significant milestone for us: it is our largest acquisition to date, bringing us into a new county and significantly extending our branch coverage in a new region. It also gives us a presence between Derby and Nottingham and provides us with the critical mass we need to grow our East Midlands region. We extend a warm welcome to our new staff and clients in Derbyshire and look forward to a successful future with them.
“We intend to develop this region further in the same way that we develop our existing regions, by acquiring good quality businesses in those towns where we do not yet have a presence, as well as acquiring property portfolios to strengthen our established branches. We are always keen to hear from any business owners thinking of selling and can assure them a smooth and fair transaction.”
Leaders is one of the leading consolidators in the lettings industry, having grown every year since establishment in 1983, through a combination of strong acquisitive and organic growth. Last year Leaders secured a £30 million expansion financing facility to support its continuing buy-and-build strategy. Leaders now has 99 branches across the UK.