Nick Dunning Associates has made its first large-scale acquisition with the purchase of letting and sales agency Badger Holdings Group.
The group has a 26-branch network based in London and the Home Counties and operates through high street brands Townends and Regents.
Nick Dunning Associates was founded by Nick Dunning soon he left Countrywide, where he was commercial director.
Working with a leading private equity investor, Nick Dunning Associates is looking to acquire further lettings-focused agencies across the UK. The firm is open to working with established management teams who are prepared to stay with their business post acquisition.
Nick Dunning, chief executive officer and founder of Nick Dunning Associates, said: “The Badger Holdings Group is an extremely well run business with an excellent reputation and a solid record of profitability.
“We will be looking for the management team to drive growth organically in all its business divisions but also through strategic acquisitions and expanding its branch footprint.”
Seamus Kavanagh, group chief executive officer of Badger Holdings Group, said: “I would be pleased to hear from owners of other lettings-focused businesses in London and the Home Counties who may be considering an exit in the next few years.”
Matt Hewitt, commercial director of Nick Dunning Associates, added: “This is the first major transaction of 2017 and it demonstrates that despite the impact of Brexit and the forthcoming ban on tenant fees, professional investors still have confidence in the UK rental market.”
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