Lomond Group, the letting agent chain owned by an arm of Britain’s biggest lender, is to change hands in a deal worth around £450m.
Sky News has learned that ICG, the London-listed investor, has agreed a deal to invest in Lomond following a months-long auction.
Municipal sources indicated that an agreement should be signed in the coming days.
A process to sell the business, owned for years by LDC, the private equity arm of Lloyds Banking Group, has been underway for months.
Lomond Group was formed from the merger of Lomond Capital and Linley & Simpson in 2021, a deal that created a business with 22,000 properties under management.
The company has a strong presence in cities such as Aberdeen, Birmingham and Leeds.
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It is sold under brands such as Thornley Groves, Braemore and John Shepherd.
This potential auction comes against a backdrop of strong business activity in the real estate agency sector.
LDC was advised by Clearwater International bankers on this transaction.
ICG declined to comment.