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Buzzacott has advised Foxtons on two separate acquisitions of Haslams Estate Agents and Imagine Property Group for a total of £12.6m.
The firm performed financial and tax due diligence services and provided buy-side transaction advisory services on both deals.
The transaction team was made up of associate director George Thresh and assistant manager Megan Leonard-Moran, overseen by partner Alex Judd.
Meanwhile, the tax due diligence team was made up of partner Liam McKeevor, senior manager Kazia Kruszewski, and assistant manager Anais Leinhart Ortega.
The acquisitions reflect further progress against Foxtons’ strategy to acquire high quality, earnings accretive, lettings focused businesses, with “synergistic” growth opportunities which increase the group’s exposure to recurring lettings revenues.
These deals expand Foxtons’ network into Reading and Watford, which are both commuter towns that benefit from excellent transport links to London, with Central London accessible in under 30 minutes.
In addition, both markets are forecast to deliver leading levels of economic growth versus the rest of the UK, with Reading forecast to become the UK’s fastest growing location by 2027.
News of the acquisitions follow Foxtons’ success in the London commuter towns of Guildford and Woking.
Buzzacott has also assisted Foxtons with five other transactions in recent years.
