Wed, 21 May 2025 | BUSINESS SALE
Nationwide property services and estate agency firm Connells Group has acquired an estate and lettings agency based in Devon. The acquisition of Ridgewater Property Limited represents the fifth acquisition of 2025 so far for Connells, which trades under more than 80 brand names across the UK.
Ridgewater Property is a well-established estate and letting agency in Devon, covering Torquay, Paignton and Brixham. Following the acquisition, all current staff will remain with the business, integrating into the Connells Torquay team at the group’s newly renovated office.
The deal adds more than 300 managed rental properties and over 70 sales properties to the Connells Group portfolio. It will also create an advanced service and improved support network for customers in Devon, with staff and customers also set to benefit from Connells’ training and development programmes, large applicant database and sales and lettings support.
Following the acquisition, Connells Group Chief Operating Officer Chris Rosindale described Ridgewater Property as “a really successful business with a fantastic team who all have exceptional expertise in their local market.”
He continued: “Their values and ethos align perfectly with ours, so I have no doubt that our new colleagues will fit seamlessly into our Group.”
Regarding the group’s M&A activity, Rosindale said that Connells has “more [deals] in the pipeline, and we’re keen to explore more opportunities to keep adding to our growing network.”
Ridgewater’s former director Neil Tozer, meanwhile, said: "When we decided to sell Ridgewater after 17 years, it was important to us to choose the right business to hand over our valued clients and team to.”
"We chose Connells because we believe they have the skills and resources to give our customers the continued support and assistance they need in ever changing times. They will also be taking on our whole team as part of the sale to ensure our customers have a continuity of service and a familiar point of contact.”
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