Lomond Group in top spot after buying DJ Alexander
New team: Stuart Pender, David Alexander and Andrew Seldon
Lomond Group has become the largest lettings and estate agent in Scotland after confirming its acquisition of DJ Alexander.
The move, which had been predicted earlier this month, was supported by Lomond Group’s private equity partner LDC.
It brings Lomond Group’s portfolio of managed properties to 9,500 in Scotland, and significantly strengthens its presence in the Scottish central belt. It is the Group’s 24th acquisition in 2021 and means it now manages more than 30,000 properties throughout the UK.
DJ Alexander will continue to trade under its existing name, with founder David Alexander leading the Lomond business in Scotland as CEO.
Andrew Seldon will become CEO (North and West Scotland) responsible for the group businesses in Glasgow and Aberdeen, reporting to David Alexander.
DJ Alexander’s 104 employees will join Lomond Group, bringing the total Group headcount to approximately 250 in Scotland and 1,000 across the UK.
As part of the acquisition, Lomond Group will also consolidate its Edinburgh and St Andrews-based agency, Braemore, as well as the Edinburgh branch of its recently acquired Fineholm business, into the DJ Alexander brand.
Stuart Pender, group chief executive of Lomond Group, said: “DJ Alexander is a highly respected agency in the Scottish central belt with a reputation for excellence in the industry.
“The acquisition emphasises our focus on consolidating fragmented regional markets to enhance the proposition our sector offers to clients while maintaining a local, on-the-ground approach which brings significant benefits to landlords and tenants.”
Managing Director at DJ Alexander, David Alexander, added: “Anyone who has ever worked with me over the last 40 years knows how driven and passionate I am.