Property group LRG (previously Leaders Romans Group) has acquired estate agency group Chancellors Group, its biggest ever acquisition.
Chancellors operates in 50+ locations across West London, Berkshire, Hampshire, Oxfordshire, Wiltshire, Worcestershire, Herefordshire and Mid Wales, supported by 480 employees.
LRG has acquired the firm to grow its presence in Mid Wales, Herefordshire, South Oxfordshire, and the Cotswolds, regions where it previously had no representation.
The Chancellors brand will be retained while Robert Scott-Lee, its managing director, will continue as a consultant during the transition.
Matthew Light, group mergers and acquisitions director at LRG, said: “The acquisition of Chancellors, with its 50+ branches, is our largest to date and a prime example of the type of business we are looking to acquire.
“We focus on acquiring prolific regional agencies with strong local reputations, established multi-branch networks, and significant lettings portfolios. Chancellors perfectly fits this profile, strengthening our market share and expanding our geographic reach.”
Chancellors was founded in 1807 by James Cain, while it offers a comprehensive suite of services, including residential sales, lettings and new homes.
With a strong presence across the Home Counties and beyond, Chancellors supports a wide range of clients, from first-time buyers and experienced investors to landlords and tenants.
FRP Corporate Finance, led by partner Bilal Hasan and supported by senior managers Nick Wright and Patrick Starrett was appointed by the shareholders to advise on its sale
Chancellor’s acquisition significantly expands LRG’s reach in existing and new markets, fuelling its ongoing growth strategy. Notably, this acquisition establishes LRG’s presence in Mid Wales, Herefordshire, South Oxfordshire, and the Cotswolds, regions where it previously had no representation.
Robert Scott-Lee, managing director of Chancellors said: “FRP Corporate Finance came highly recommended to us, and they truly delivered on their reputation as leading advisers with in-depth sector knowledge.
“Their team was available throughout the transaction, offering support at every step. We’re extremely pleased with the result and are confident we’ve found the perfect home for the business to thrive.”