Lettings agency doubles in size after acquiring competitor

A Bournemouth lettings agency has doubled in size after acquiring a competitor firm for an undisclosed sum. Foxes Sales & Lettings now has 600 managed properties on its books after purchasing Hearnes Lettings, leading to its staff force to increase to 14 and add offices in Ferndown, Poole and Ringwood to its existing Bournemouth headquarters.

Damon Robbins, joint owner of Foxes Sales & Lettings, said: “This is a major step forward for us and we’re delighted with the acquisition”

Neil Cook, the Head of Business Services here at Ellis Jones, acted as the legal adviser for Foxes during the acquisition – handling all aspects of the deal.

Neil said: “This acquisition is a quantum leap for Foxes Sales & Lettings. We were very pleased to assist in the purchase and wish Damon and his joint owner, Steve Baker, every success for the future.”

Damon added: “Neil and his team completed the transaction very quickly and we were very happy with the service we received from Ellis Jones.”

The acquisition only relates to Hearnes Lettings and does not affect Hearnes Estate Agents which continues under separate ownership.

The Business Services team have extensive experience in advising on many different acquisitions. If you require advice on this type of matter, or have a business law related enquiry, send the team an email enquiry or call 01202 525333.