Lloyds Banking Group’s private equity arm, LDC, has exited its investment in Lomond Group, with alternative investment firm ICG acquiring a majority stake. LDC initially supported Linley & Simpson in 2018 and facilitated its merger with Lomond Capital in 2020. Although LDC has stepped down as the majority shareholder, it has reinvested in the business.

ICG is now the primary owner, while Lomond’s founding chairman, Stuart Pender, and the management team have also reinvested. The financial details of the transaction remain undisclosed, but Lomond indicated that this investment will bolster its growth strategy, focusing on further consolidation through mergers and acquisitions in existing markets and expanding into new regions.

Ed Phillips, CEO of Lomond, expressed gratitude for the partnership with LDC, highlighting the achievements made together and the ambition shared with ICG. He emphasized the goal of accelerating growth to establish Lomond as the leading estate agency network in the UK.

Stuart Pender noted that ICG's investment provides significant resources to support Lomond's growth ambitions over the next three to five years. He praised the management team's efforts in building a market-leading platform and acknowledged LDC's support during a critical growth phase. Pender looks forward to collaborating with ICG and LDC to maximize the platform's potential.

Mark Piasecki, managing director at ICG, expressed enthusiasm about partnering with Lomond, citing the impressive growth trajectory of the company. He sees substantial opportunities for value creation through organic growth initiatives and leading consolidation efforts in a fragmented market. Piasecki is eager to work closely with Lomond's management team to realize its significant potential.

Overall, this transition marks a pivotal moment for Lomond Group as it seeks to enhance its market position and expand its operations with the backing of ICG.