Ocean

Description

FRP  are pleased to have successfully advised on the sale of Ocean Property Services Group, an award-winning independent estate agency in Bristol and North Somerset, to Lomond, one of the UK’s largest networks of lettings and sales agents.

Founded in 1983 by Paul Harris, Ocean has grown from a single branch into a regional leader. Today, operating out of 12 branches across Bristol and the surrounding area Ocean provides a full service offering spanning residential sales, lettings, conveyancing, property management and financial services.

FRPs Corporate Finance team acted as lead adviser to Ocean on the sale. The team prepared the business for sale, identifying Lomond as the ideal partner and led on all commercial negotiations through to a successful completion.

The deal will see Founder Paul Harris exit the business, leaving it well positioned for its next phase of growth with Lomond providing the platform to build on its strong brand, deep local roots and service-led approach.

For Lomond, the acquisition will enable it to build out its presence in the west. This represents another significant milestone in Lomond’s strategic expansion plan, which has seen it make more than 70 acquisitions across the UK.