Bowmark-backed Leaders Lettings acquires JSM

Since the investor backed the £48m management buyout of Leaders in March 2010, the company has completed 11 add-on acquisitions as part of its buy-and-build strategy. Additional senior debt facilities have been provided by Lloyds Bank Corporate Markets Acquisition Finance and RBS Financial Sponsors to support the acquisition of JSM, as well as a continuation of Leaders' consolidation strategy.

JSM Property Management is headquartered in Woodbridge, Suffolk, and manages in excess of 4,000 residential properties.

Worthing-based Leaders is a major UK specialist residential lettings and property management agency. The company was founded in 1983. It now comprises 54 branches across the South of England, managing more than 20,000 properties

Financial due diligence for Leaders Lettings was provided by HMT and Dean Wilson was legal adviser. Debt finance providers Lloyds and RBS received legal advice from Osborne Clarke while Birketts was legal adviser to the vendors.

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• Topics
• UK / Ireland
• Real estate
• Portfolio management
• Bowmark Capital LLP
• Lloyds
• Royal Bank of Scotland