Leaders Lettings acquires JSM, the largest specialist lettings agency in East Anglia

Since Bowmark backed the £48 million management buy-out and expansion financing in March 2010, Leaders has completed 11 acquisitions, and grown its branch network from 42 to 54. The number of properties under its management has increased from 15,000 to 20,000.
Additional senior debt facilities in support of both the acquisition of JSM and Leaders’ continuing consolidation strategy in the UK lettings sector, were provided by Lloyds Bank Corporate Markets Acquisition Finance and RBS Financial Sponsors, South.

Paul Weller, Leaders’ managing director, commented: "JSM has a strong reputation for excellent service, making it an ideal fit with Leaders. We are already targeting further follow-on acquisitions in the region, as part of our continuing national acquisition search."

Bowmark investment director, Tom Shelford, added: "The acquisition of JSM consolidates Leaders’ strong market position, establishing an increasingly powerful presence in new regions outside the South East, as envisaged at the time of the financing."

Andrew Clayton, MD Financial Sponsors, South at RBS, said: "We are delighted to provide further support for Leaders’ management in their pursuit of their growth objectives. JSM represents a significant, quality opportunity in an attractive adjacent geographic territory, in line with the management’s buy and build strategy."

Adrian Peckham, director at Lloyds Bank Corporate Markets Acquisition Finance, said: "With demand for rented accommodation increasing, the sector is now one of the largest and fastest growing in the UK, worth an estimated £500 billion. Leaders is perfectly placed to capitalise."