Countrywide to sell LSH

Fri, 29 Nov 2019 | BUSINESS SALE

Estate agency firm Countrywide has agreed a deal to sell its commercial property wing Lambert Smith Hampton (LSH) for £38 million.

Countrywide, which has been looking to reduce its debt, will sell the consultancy to Monaco-based property developer John Bengt Moeller, founder of Great Global Holding, which acts as a holding company for numerous UK and international commercial property businesses.

The deal will reduce the company’s debt burden by £34 million, Countrywide says. Its net debt was at a reported level of £90 million in June. Countrywide also said the deal would significantly strengthen its capital structure and allow it to focus on its core residential services business.

LSH was acquired by Countrywide in 2013, it has over 40 locations across the UK and Ireland, employing around 1,700 staff. It manages 7,700 properties and advises on £16 billion of property per year.

Countrywide executive chairman Peter Long said: "The sale of the Lambert Smith Hampton commercial business strengthens the group. Once completed, we believe that the group will be in a more advantageous position in our core residential market. The group remains on course to deliver a full year result in line with the board's expectations."

The deal is subject to approval from shareholders and is expected to be completed on December 31.

Countrywide has also announced the agreement of an amended credit facility with its lenders, as it looks to gain the “financial flexibility” to continue its turnaround in a challenging market environment.

Countrywide was advised by a team from law firm DWF, lead by partner Lester Wilson with Amelia Mackie, Tim Howden, James Lonsdale, John Toon, Andrew Carr, Jim Speed, Nick Wallace and Helen Balliger.

Share this article

Latest Businesses for Sale

Application Development Practice Providing Bespoke Business Systems
South East, UK

Builds & implements bespoke business systems crafted to an exceptional standard including web-based digital tools social collaboration solutions & web product development for blue-chip SME & start-up clients operating in a range of industries. The co...

Asking Price: Offers Invited
Turnover: £1,900,000

Independent Stockbroker & Wealth Manager
London, UK

Provides discretionary, advisory and execution services to retail and professional clients throughout the UK and internationally. Delivers unbiased and transparent information, advice and strategies, which are tailored to meet its clients’ unique in...

Asking Price: Offers Invited
Turnover: £2,000,000


Independent Provider of Specialist GLP Compliant Services
South East, UK

Unusual opportunity to acquire this well-established independent provider of specialist GLP compliant analytical services in agrochemicals, biocidal and natural products technical and formulated product testing, five batch analysis and storage stabil...

Asking Price: Offers Invited
Turnover: £700,000

View more businesses for sale

News Search

Latest News


Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...


Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...


Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE

Pizza Express has announced that it is seeking a buyer for i...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Countrywide seeks new buyer for LSH as sale is delayed | BUSINESS SALE

Countrywide has announced that it is seeking a new buyer for...


Rural supplies firm Countrywide puts all its shops up for sale | DIVISION SALE

Countrywide, the supplier of equestrian and farming supplies...


Countrywide considering sale of commercial property business | BUSINESS SALE

The UK’s largest estate agent, Countrywide, is conside...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources