Leaders Romans Group (LRG), one of the UK’s largest property service providers, has acquired Portico, a successful 15-branch residential lettings and sales agency located across West, East and Central London.
The Portico name dates back to 1818 and was acquired by Robert Nichols in 2004 when the business was known as Edmund Cude. The move will see LRG welcome 154 Portico employees to its group, all of whom boast expert knowledge of their local areas across London.
Matthew Light, Group Mergers and Acquisitions Director at LRG, comments: “We are delighted to complete this acquisition and welcome Portico into the growing LRG family. Portico, predominantly a lettings business, has built up a highly reputable business that prides itself on providing a well-educated, knowledge-driven approach to property. This fits into the LRG ethos of remaining approachable to our customers while providing them with the best, and most trusted, local experts.”
Michael Cook, National Lettings Managing Director at LRG, comments: “We’re thrilled to be joining forces with such a brilliant lettings and sales agency. This acquisition supports our vision for expansion of our footprint and range of service in the capital following our recent acquisitions of Outlook Property in 2020 and Gibbs Gillespie earlier this year.”
Robert Nichols, Chief Executive Officer at Portico, commenting on the acquisition, adds: “I’d like to thank the incredible team here at Portico for helping us build a brand that has become known across London. We have the greatest of respect for the team at LRG and under their ownership we feel sure that Portico, and the people that make it all happen, will continue to grow and develop in the coming years.”