LDC-backed Linley & Simpson acquires Beercocks

This is the company's ninth bolt-on since LDC invested £10m in the business in June 2018 to support its growth strategy.

The Beercocks management team has sold its stake in the business. 

The deal marks the company's first acquisition in Humberside, and Linley & Simpson is currently reviewing further acquisitions in the area.

LDC did not provide fresh equity to support the acquisition. Financing for the acquisition was provided by Santander Corporate and Commercial Banking.

Company
The acquired business is the lettings arm of real estate agency Beercocks, based in Hull. The portfolio includes 500 properties.

The business has retained six Beercocks employees as part of the lettings team. In 2018, the company generated a turnover of around £9m.

People
LDC – Gareth Marshall (investment director).
Linley & Simpson – Will Linley (CEO).

Advisers
Acquirer – Raworths, Simon Morris (head of corporate).

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• Topics
• Portfolio management
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• LDC
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• Santander
• Buy-and-build