Buzzacott advises Foxtons on its acquisition of Ludlow Thompson

Seller: Ludlow Thompson

Buyer: Foxtons Group Plc

Type of deal: Acquisition

Sector: Real Estate

Value: £10m

Date: December 2023

Overview of deal

Foxtons has acquired Ludlow Thompson, an acquisition which reflects continued progress with the group’s lettings portfolio acquisition strategy. 

Who are the firms involved

Foxtons us London’s most prominent lettings agent with a portfolio now standing at more than 28,200 tenancies.

Ludlow Thompson is a high quality, lettings focussed estate agent operating across 7 branches in London, generating over 70% of total revenue from lettings. The business was founded 30 years ago and has developed a loyal customer base driven by its results orientated operating model.

What we liked about this deal

Having previously assisted Foxtons with its acquisition of Douglas & Gordon in 2021, both Stones Residential and Gordon & Co in 2022 and Atkinson McLeod earlier in 2023 it was a pleasure to work again with Chris Hough (CFO, Foxtons) and Andy Bushell (Director, Foxtons) in what was a very constructive process. Our team worked collaboratively with both buyer and seller to ensure a positive result was achieved. 

Buzzacott performed financial and tax due diligence and provided buy-side transaction advisory services to get the deal over the line. 

The Buzzacott team was made up of Alex Judd (Head of Transaction Services), George Thresh (Associate Director) and Stephen Byrne (Assistant Manager) on the FDD and Transaction Advisory side and Tony Dillow (Director – Tax) and Kazia Kruszewski (Senior Manager) on the Tax side. 

To see further transactions in the real estate space, please see our transactions page.