Lomond Secures Investment from ICG
Deal News | Dec 02, 2024 | Travers Smith
Travers Smith LLP has played an advisory role to the senior management team of Lomond on an investment deal involving funds managed by ICG. Lomond, a premier property management and estate agent platform, services the UK lettings and sales market with an impressive portfolio of over 50,000 managed properties. Boasting a growing workforce of over 1,900 employees, the company has been the recipient of numerous industry workplace accolades. Notably, Lomond has completed more than 65 acquisitions since 2021, reinforcing its position as a dominant consolidator in the UK lettings agent sector. Travers Smith's advisory team was spearheaded by Partner Adam Orr, with contributions from Senior Associate Eilidh Morrison, Associate Cari Sweeney, and Trainee Georgia Gridley. Specialized tax counsel was provided by Tax Partner Hannah Manning and Associate Ross McGregor. Although the transaction has not been finalized yet, it currently awaits customary closing conditions.
Sectors
- Real Estate
- Private Equity
- Legal Services
Geography
- United Kingdom – The article focuses on Lomond's operations, which are centered in the UK property market.
Industry
- Real Estate – The sector involves property management services and estate agency functions, which is the core business of Lomond.
- Private Equity – ICG's investment into Lomond denotes a capital infusion typical of the private equity industry, facilitating Lomond's strategic acquisitions and consolidation activities.
- Legal Services – Travers Smith LLP provides legal advisory services to Lomond's management regarding the investment transaction.
Financials
- Not Specified – The financial details of the investment by ICG were not disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lomond | Target Company | Company | A leading platform in the UK for property management services and estate agent operations. |
| ICG | Investing Company | Company | Intermediate Capital Group, a global alternative asset manager that is investing in Lomond. |
| Travers Smith LLP | Legal Advisor | Company | A law firm providing legal advisory services to Lomond's senior management team during the investment deal. |
| Adam Orr | Partner and Leading Advisor | Person | Private Equity & Financial Sponsors Partner at Travers Smith LLP leading the advisory team. |
| Eilidh Morrison | Senior Associate | Person | Senior Associate at Travers Smith LLP involved in the advisory team. |
| Cari Sweeney | Associate | Person | Associate at Travers Smith LLP involved in the advisory team. |
| Georgia Gridley | Trainee | Person | Trainee at Travers Smith LLP involved in the advisory team. |
| Hannah Manning | Tax Partner | Person | Tax Partner at Travers Smith LLP providing specialist tax advice. |
| Ross McGregor | Associate, Tax Specialist | Person | Associate at Travers Smith LLP providing tax advice. |