MML backed Lomond Capital, the rapidly expanding property group, has secured up to £37.5 million acquisition funding as it embarks on its latest expansion into new letting and sales markets across the South of England.
Lomond has made an immediate impact with its investment in Brighton based Brand Vaughan announced this month. Brand Vaughan operates from three offices in Brighton, managing more than 1,250 properties throughout Brighton and the surrounding area.
Stuart Pender Chief executive of Lomond said: "Lomond has been interested in expanding the group into the South Coast of England for some time and Brighton was a key target. We are delighted to have the opportunity to acquire the majority stake in its leading property group. "We have got to know the experienced team at Brand Vaughan in recent months and very much look forward to working with them to secure other "bolt on" acquisitions, both within Brighton and across the broader market in the South Coast."
In preparation for this next phase of expansion, Lomond has appointed a new Group Managing Director, Bruce Evans. Previously the Managing Director of Countrywide’s operations in London and South of England, Evans adds to the group’s extensive knowledge of the property industry across the UK. His previous experience will prove hugely valuable in its expansion into the South while he will play a vital role in Lomond’s growth in existing markets.
Since its inception in 2010, Lomond has made 30 acquisitions and employs 350 people across the UK. It currently manages residential properties worth in excess of £2.5 billion and sells more than £600 million worth of property per annum.
MML Capital Partners (“MML”) backed IQARUS (www.iqarus.com) has acquired C-CHEC, a leading occupational hygiene consultancy. MML invested into IQARUS in October 2015 as a platform from which to develop an international player in healthcare solutions for remote environments.
C-CHEC provides a range of services to detect and control hygiene risks in the workplace. The C-CHEC acquisition enhances IQARUS’s medical and occupational health capability in what is an extremely important area for its clients in ensuring the welfare of employees.
Tim Mitchell, CEO of IQARUS comments: ’This strategic acquisition will be the first in a series that will transform the provision of healthcare solutions for challenging environments. C-CHEC are market leaders and highly respected within the global oil and gas industry and other sectors; we are very proud to now be offering this expertise. We see significant benefits to clients in delivering hygiene consultancy in tandem with medical and health provision as part of our holistic approach to managing the health and wellbeing of our clients’ workforces.’’
Luke Jones, MML, comments: “The services provided by C-CHEC are extremely complimentary to IQARUS’s current offering and strategy. We look forward to continuing to support Tim and his team in executing their ambitious growth plans.”