Leaders has acquired specialist letting and property management firm QB Management Ltd, which trades from premises in Headington, Oxford, and has a well-established lettings portfolio across Oxford.
This latest acquisition, which completed earlier this month, gives Leaders its 85th branch and its first step into the city of Oxford.
QB Management has been established for over 22 years and was owned and operated by Peter Conisbee who has retired to pursue other interests in the West Country.
Commenting on the acquisition, Peter Conisbee said: “I am delighted that QB Management has joined Leaders. I was determined to secure a promising future for our staff and clients which is why I chose to sell to Leaders. They are well respected in the industry, not only for the quality of their service, but for the way they carry out acquisitions, offering a fair deal to business owners and a smooth transition for landlords, tenants and employees transferring with the business.
I know that I have left the business in safe hands. This move will benefit our clients who will now have access to a wider range of property services with much wider coverage but with the same focus on a personal, local service. Staff will also benefit from excellent opportunities to progress their careers with Leaders where the future looks extremely bright.”
Having now completed the transaction I am convinced that it is the right decision; the management team at Leaders has impressed me with their professionalism and pragmatism. They are clearly experts at making the process as painless as possible.
Leaders managing director, Paul Weller (pictured), said: “We are pleased to welcome QB Management staff and clients to our network and look forward to working with them. “This is a key acquisition for us, giving us a presence in Oxford where there is huge market potential. Our new branch will also be an ideal foundation upon which to expand our service in Oxfordshire.
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.
Following a management buy-out in March 2010 backed by Bowmark Capital, the mid-market private equity firm, Leaders has completed 60 acquisitions and more than doubled its branches from 42 to 85. Leaders recently secured a £30 million expansion financing facility to support its continuing buy-and-build strategy and since the start of 2014 has completed 14 acquisitions across the UK.
We have built a strong reputation among vendors in the residential lettings industry and for many owners we are the acquirer of choice,” said Mr Weller. “With our extensive acquisition experience, capacity and appetite, we are ready and able to consider any acquisition opportunity across the UK.