We are delighted to announce that Foxtons have acquired FleetMilne (Birmingham) Limited (FleetMilne).

Overview of the deal

Led by George Thresh, Buzzacott provided Financial Due Diligence and Transaction Advisory services to Foxtons in their acquisition of FleetMilne. The wider Buzzacott team was made up of Victoria Sunley and Alex Judd.

This acquisition builds on Foxtons’ strategy to grow non-cyclical, recurring Lettings earnings, whilst also expanding the Group’s footprint into Birmingham – a market with significant growth opportunities and strengthening connectivity with London. The acquisition is expected to deliver organic growth through revenue and cost synergies and serve as a regional hub for potential bolt on acquisitions.

We are delighted to continue the relationship with Foxton’s acquisition team and support their growth strategy, with this being the 11^th project we have supported them on in recent years.

Who were the firms involved?

Founded in 1981, Foxtons is London's leading estate agency and largest lettings agency brand, with a portfolio of over 31,000 tenancies. The Group operates from a network of interconnected branches in London and surrounding high growth commuter towns, offering a range of residential property services across three business segments: Lettings, Sales and Financial Services.

FleetMilne is a high-quality, independent lettings agent, with a leading market share position in Birmingham, and over 95% of revenue coming from Lettings; making them the perfect acquisition to support Foxton’s Lettings strategy.