Investec Growth & Acquisition Finance has provided financing to Lomond Capital, a regional residential letting and property management group. The senior and subordinated financing package will assist Lomond as it continues its buy & build strategy, acquiring residential lettings and property management businesses in attractive regional markets.
Investec Growth & Acquisition Finance (“Investec”) has provided financing to Lomond Capital (“Lomond”), a leading regional residential letting and property management group, to support the company’s rapid growth strategy.
The senior and subordinated financing package will provide significant additional firepower to assist Lomond as they continue their successful “buy & build” strategy, acquiring residential lettings and property management businesses in attractive regional markets.
Lomond is the largest letting agent in Edinburgh and Aberdeen, managing over 5,000 properties, and is also already active in the Manchester market through their most recent acquisitions of Penny Aston and Thornley Groves. Lomond intends to expand its current operations in these areas as well as introduce their distinct business model and high quality services to other regional centers across the UK.
Stephen White of Investec commented: “We have been working with Lomond for over a year to ensure that we were able to tailor the most appropriate financing structure to support the company’s exciting expansion plans. Lomond is an excellent example of the type of entrepreneurial management teams that we at Investec are committed to supporting as they execute their growth strategies.”
Stuart Pender, Chief Executive Officer of Lomond Capital, commented: “Working with Investec has enabled us to access flexible financing that is suitable for our business and allows us to maintain the strong growth momentum that we have seen already in 2013.”
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For further information please contact:
Investec Specialist Bank
Stephen White/Shaun Mullin 020 7597 5012
Jason Nisse/Andrew Jones 020 7680 6550
NOTES TO EDITORS:
Investec Growth & Acquisition Finance
Investec Growth & Acquisition Finance is part of Investec Specialist Bank. It works with entrepreneurs, management teams and private equity houses to provide finance to UK mid-market companies. Their flexible solutions cover the entire capital structure offering revolving and amortising senior cash flow lending, mezzanine finance and minority equity on either a standalone or integrated basis. They are a single, empowered and responsive team focussed on making deals happen and building strong relationships with clients.
Investec Specialist Bank
Investec is a specialist bank that provides a diverse range of financial products and services to a niche client base in three principal markets: the United Kingdom, South Africa and Australia, as well as certain other countries.
This press release is issued on behalf of Investec Bank plc. Registered address: 2 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Specialist Bank is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.