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Bowmark Capital to exit Leaders Romans Group to Platinum Equity

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UK private equity firm Bowmark Capital has agreed to exit British property services business Leaders Romans Group to fellow buyout house Platinum Equity.

LRG was formed from the merger of two Bowmark portfolio companies, Leaders Lettings and Roman Group, in 2016. It specialises in residential property lettings, sales and associated services including planning and surveying.  It manages over 62,000 properties across the UK.

Its revenue has trebled to £165m and completed 132 bolt-on acquisitions during the the time.

Bowmark partner Tom Shelford said, “We are delighted to have supported LRG to become the leading consolidator in the sector.  The exceptional calibre of LRG’s people, and its focus on service excellence through digital transformation and product innovation, will ensure its continued success with its new investment partner.”

The firm completed a rapid £600m Fund VI raise in 2019, which is currently 40% invested.

Platinum is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market.

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