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Spicerhaart dips into £26m war chest to snap up three-branch independent

KREMER NS

Spicerhaart has acquired the three-branch Brian Holt group in the midlands for an undisclosed sum.

The purchase builds on the acquisition of butters john bee.

Spicerhaart says more acquisitions of high street firms will be announced shortly, making it clear that it is not interested in online ventures.

Established in 1995, Brian Holt’s branches in Coventry, Kenilworth and Earlsdon complement the recent purchase of the 19-branch butters john bee in Cheshire, Shropshire, Staffordshire and the west midlands, adding what Spicerhaart calls further firepower to its operations in that part of the UK.

Spicerhaart chief executive Paul Smith said: “This underlines our commitment to bricks and mortar estate agencies, particularly those with strong lettings books and property management divisions.

“Brian Holt is an independent, family-run business, like our own, and becoming part of our group will enable their branches to offer more services to customers, including financial services and conveyancing, as well as provide further career opportunities to their 25 staff.

“We will be announcing further acquisitions in weeks to come, having announced our intention to invest £26m into our growth plans, backed up by all the latest advances in digital technology.”

Operations director Alexandra Holt, daughter of the agency’s founder Brian Holt, said: “We are extremely delighted to become part of the Spicerhaart group and are looking forward to the many exciting opportunities that this offers to our organisation.”

Spicerhaart, which was established by Paul Smith and his father Alick in 1989, now has 200 branches with 2,000 staff nationwide, with brands including haart, Darlows, Haybrook, Felicity J Lord, and Chewton Rose.

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Source:: Spicerhaart dips into £26m war chest to snap up three-branch independent