One of Scotland’s leading independent corporate finance specialists, DC Consulting advised the owners of Braemore Property Management in the recent sale of their business to Lomond Capital. The deal, led by Harry Linklater and Chris Clark follows soon after DC’s recent expansion into the Edinburgh corporate finance market.
Braemore is a leading Edinburgh Lettings business which currently manages over 800 properties and is renowned for its client service excellence. William Frame, majority shareholder and former Chairman, will retain a consultancy role and will work closely with the Lomond team going forward.
Commenting on the deal, William Frame said: “Consolidation is well overdue in the lettings sector across the UK. Braemore will be used as a bridgehead by Lomond Capital to acquire quality property letting businesses. Their business plan in very sound and backed by a strong well proven Management Team. The Braemore team of Karel Broughton and Colette Murphy along with the entire Braemore staff will be assisting Lomond in driving through the acquisition strategy. Like all deals we had our good and bad days on the way – especially as we had not prepared the business for sale. Without the steady hands of DC Consulting’s Chris Clark and Harry Linklater, getting the transaction over the line would have been somewhat challenging.”
Lomond Capital paid an undisclosed sum for the firm and has promised similar deals are in the pipeline.
Lomond Capital chairman Roger Lane-Smith commented: “The acquisition is the first of a clearly defined strategy that will see Lomond Capital look to significantly grow its presence in Edinburgh and other major UK cities. In difficult economic times, we’re delighted to be in a position to invest in the UK economy.”