Lambert Smith Hampton has acquired a majority stake in south east England consultancy SHW in what it has called the first major step in its "mission to become the UK’s leading commercial property advisory firm".
LSH, one of the UK and Ireland’s leading property consultancies with 30 offices and more than 1,000 staff, confirmed that SHW will continue operating as a partnership under its name across its 10 offices in South-East England, including Brighton, Eastbourne, Fleet, Worthing, Crawley, Leatherhead, Kingston, Bromley, Croydon and London’s West End.
The confirmation comes after talks of a strategic partnership were reported in January.
LSH said it wants to expand through a mix of organic growth and strategic acquisitions and called the strategic partnership with SHW a "key plank" of its growth plan that strengthens its regional services. "LSH and SHW share a belief in local insight, strong client relationships and hands-on service delivery," the firm said in its announcement this afternoon.
SHW's services range from agency and transactions to architecture, planning and building consultancy. It has a team of more than 200 professionals.
"Together, LSH and SHW will provide enhanced reach that deepens their client service capabilities across England, while providing even greater opportunities for their talent to flourish," LSH added in its announcement.
Ezra Nahome, chief executive at LSH, added in a statement: "We are delighted to have had the opportunity of investing in SHW. We see significant opportunity to drive revenue and grow profits. SHW are a great firm with a winning culture. This investment endorses our commitment to the growth in regions in the UK."
Russell Markham, managing partner of SHW, said: "This collaboration marks a significant step forward, enabling SHW to accelerate corporate growth and help to achieve our key business expansion objectives. Through this partnership, we look forward to further enhancing our service offering to clients whilst expanding our reach across the South and within the property industry.
"In particular, the investment will also allow us to expand into Kent and Essex to widen our client services and reach."
LSH is part of Connells Group, which is owned by Skipton Building Society and is also the UK’s largest residential estate agency.