Dexters has snapped up fellow London agent Marsh & Parsons from LSL Property Services for £29 million making the combined group the biggest estate agent in the capital.
Dexters Buys Marsh & Parsons from LSL for £29 Million, Becoming Largest Estate Agent in London. The Acquisition Adds 30 Offices and 300 Staff, Boosting Annual Turnover to £180 Million and Handling 35,000 Property Transactions Annually. Marsh & Parsons Brand to be Retained, with Plans to Double Business Size in Line with Dexters Expansion.
Andy Shepherd, CEO of Dexters: ‘Acquiring Marsh & Parsons, a Respected London Brand, to Double its Size and Become a Market Leader.
Justin King, Chairman of Dexters: ‘Group Now Has More Local Offices and Greater Presence Than Any Other Estate Agency in London.'”
Marsh & Parsons had £28 Million Gross Assets and £1.8 Million Profit in 2021 Financial Year. LSL Disposal Supports Focus on Financial Services, Reduces Exposure to Volatile London Housing Market.
David Stewart, LSL CEO: ‘Disposal Simplifies Group Structure, Allows Focus on Maximizing Core Opportunities in Financial Services Network.’
Committed to Developing Remaining LSL Estate Agency Brands After Disposal, Where Synergy with Group and Growth Opportunities Exist.
Marsh & Parsons Founded in 1856 by William Marsh and Frederick Parsons, Family Involvement Ended in 1956. Owned by LSL since 2011, Acquired for £50 Million. Dexters Founded in 1993, Has 120 Offices and 1,700 Colleagues, Manages 30,000 Landlords, Facilitating 28,000 Property Transactions in London Annually.
Announced Partnership and Backing from Oakley Capital in 2021, Growth Strategy Includes Opening Offices, Acquiring Competitors, Expanding Digital Presence. Recently Opened 9 New Offices in South East London.