One of the country’s largest rental companies is about to change hands for up to £400m
One of the country’s largest rental companies is said to be about to change hands for up to £400 million.
City sources said the private equity owner of Leaders Romans Group has appointed bankers from NM Rothschild to work on a “strategic assessment” of the company, which could lead to a sale later this year.
The potential sale follows an unexpected real estate boom in the past year, driven in part by government stamp duties, which sparked a possible round of business activity in the real estate sector.
At a peak: the potential sale follows an unexpected real estate boom of the past year
Chestertons brokerage firm was recently marketed for £100 million by Libyan businessman Salah Mussa, who is believed to have appointed advisers to Deloitte.
Chestertons has some 30 branches in the UK and focuses on the sale of expensive homes.
Leaders Romans focuses on rental and has approximately 160 branches across the UK.
Bankers said Leaders Romans is expected to generate around £35 million in corporate profits, so the company could be sold for between £350 million and £400 million.
Private equity firm Bowmark Capital originally invested in Leaders Romans in 2010, helping the company complete 110 acquisitions to make it one of the largest rental agencies in the UK.
It is thought that a sale of the company – most likely to a major buyout company – could take place later this year or early 2022.