The deal sees the estate agency merge with Birmingham-based Marwood Homes and John Shepherd Lettings, which are already in the Lomond stable.
The enlarged business will manage over £250m worth of properties for private landlords and sell over £200m of property each year.
Lomond will now acquire other ‘bolt on’ acquisitions across both lettings and estate agents in the city in order to facilitate further rapid growth.
The company’s founder, John Shepherd, will retain a significant shareholding and join the board of the business he originally founded in 1991.
Stuart Pender, chief executive of Lomond Capital, said: “This is the first in a number of larger acquisitions planned in the south of England.
“The merger of John Shepherd Estate Agents with our existing businesses allows us to create a full service proposition for our clients under the leading estate agents brand in the region.”
Lomond Capital was started in 2010 and now manages residential properties worth in excess of £2.2bn and sells more than £450m of property per annum, employing more than 350 members of staff.
It currently has businesses in Aberdeen, Birmingham, Edinburgh and Manchester and is planning further investments across the South of England and Wales.
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