Dwelly, the lettings acquisition and success planning experts, is continuing its national expansion with the acquisition of Number 1 Letting in Pontefract.
The acquisition adds 850 fully managed properties to Dwelly’s growing portfolio, following a recent string of acquisitions within the UK lettings sector.
The acquisition by Dwelly will see managing director of Number 1 Letting, Tracey Brown, remain with the business.
Paul Singleton, director of Number 1 Letting, said: “We’re incredibly proud of what we’ve built at Number 1 Letting and believe this acquisition by Dwelly offers the best possible future for our clients and team.
“Dwelly’s values align perfectly with our own and whilst I’m naturally sad to be stepping back from the business, I know that with Tracey continuing at the helm, the business is set to reach even greater heights.”
Sam Humphreys, head of M&A at Dwelly, said: “The acquisition of Number 1 Letting is a fantastic addition to our portfolio and one that will allow us to considerably strengthen our foothold in the North.
“We’re especially pleased that Tracey is staying on to help drive the business forward and her knowledge of the local market and commitment to her clients will be invaluable as we ensure a smooth transition, whilst maintaining the high standards Number 1 Letting is renowned for.”
Jacqueline Kilpatrick, managing director of Letts Acquire, who conducted financial and operational due diligence on behalf of Dwelly, said: “Due diligence revealed Number 1 Letting to be a superbly managed business with robust processes and outstanding client relationships, representing an excellent strategic fit for Dwelly’s growth ambitions.”
