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Kent estate agent Miles & Barr has been bought up by a major property group as it looks to get a foothold in the county.
The Lomond Group has snapped up the company as part of an aggressive acquisition strategy to grow its business.
Miles & Barr was founded 25 years ago and has offices in Canterbury, Faversham, Whitstable, Herne Bay, Birchington, Margate, Broadstairs, Ramsgate, Deal, Folkestone, Dover, and Ashford.
It comes just weeks after Lomond announced it would be venturing into the London property market for the first time after buying up Chase Evans.
The Miles & Barr deal is Lomond’s 64th acquisition. The brand will remain intact, despite the takeover, and, says Lomond, will be its “cornerstone brand” within the region.
Lomond’s CEO, Ed Phillips, explained: “We’ve set our sights on a number of new regions so far this year and this has all been part of our growth strategy, as we look to further establish Lomond and its brands as the leading estate and lettings agency business in the country.”
CEO of Miles & Barr, Mark Brooks, added: “We truly believe our people are our most valuable asset, which is an approach that has yielded 25 years of incredible success.
“So, It was essential for us that any deal to be done had to be with an organisation that shares the same company culture and approach to business and it was clear that there was an immediate synergy between Miles & Barr and Lomond businesses in this respect.
“We’re delighted at the huge opportunity that now awaits us in continuing our growth journey and with the support of Lomond.”
The deal was for an undisclosed sum.