Taylor Wessing acts on £48 million MBO of the UK's largest residential lettings agency

European law firm Taylor Wessing LLP has acted for privately owned property business, RO Group, on the management buy-out of Leaders, the UK's largest specialist residential lettings and property management agency. Mid-market private equity firm, Bowmark Capital, backed the £48 million buy-out, which marks the entrance of the private equity firm into one of the fastest growing areas of the UK housing market.

The residential lettings market is worth £2.5bn and growing at 9pc a year. Under the ownership of the RO Group, Leaders has grown into the UK's largest lettings agency, with 42 branches across the south of England, managing more than 15,000 properties.

David Roberts comments:

“The successful conclusion of this deal indicates that there is an appetite within the mid-market private equity community for high quality businesses such as Leaders.  It is pleasing that we were able to assist RO Group both in its original acquisition of Leaders and on their successful exit from it."

Ends

Lawyers David Roberts, Nikol Davies

Notes to editors

For more information or to speak to David Roberts, please contact Sarah le Cheminant at Taylor Wessing:

Tel: +44 (0)20 7300 4930
Email: s.lecheminant@taylorwessing.com

Taylor Wessing LLP is a leading law firm providing support for commercial organisations doing business in Europe, the Middle East and China.
 
www.taylorwessing.com

RO Group is an entrepreneurial family company with interests in property investment, development and other trading activities.