Property management provider boosts growth with acquisition of Luton business

A Richmond-based property management specialist has announced the acquisition of Thornes Chartered Surveyors (TCS).

HML Holdings has agreed to purchase independent firm TCS, which was originally established in 1896, for a cash consideration of £376k.

As part of the deal, TCS’ employees will remain with the business and operate from its existing offices in central Luton. Andrew Randall will remain with the business as a consultant to help HML with the integration of the business into HML.

The acquisition is the latest for HML and follows its purchase of Cambridgeshire firm Francis Butson & Associates earlier this year as part of its plan to expand across the South of England.

Rob Plumb, chief executive of HML, commented: “We are pleased to welcome all the team at TCS into the HML Group. Prior to this acquisition HML has not been able to deliver the local and personal service that we would have wished to in this area.

“We are delighted with the additional regional coverage that TCS will bring to our network of offices. The business is especially significant for the development of HML’s lettings operations as TCS has a well-established letting client base that will create further momentum for this growing division.”