Oakley Capital, a mid-market private equity firm, has invested in major estate agency chain Dexters. Staff were informed yesterday afternoon. A City Trading statement was issued this morning.
There was speculation at one stage yesterday that Dexters had been sold, but this is not the case. Sources have said that Oakley Capital are planning to invest, or will invest, up to £130m in Dexters, but the total investment figure has not been confirmed. EYE has been told that ‘via Oakley Capital the estate agency will have access to very substantial financial backing’.
Oakley Capital are investing an initial £13m into Dexters, and this is part of a planned series of investments into the company. This investment will be used to facilitate a major expansion drive by Dexters which will include expanding the firm’s branches from the current 70 across the capital, including 12 in prime central London, to over 100 branches over the next three years, along with the recruitment of an additional 400 new staff during that period, adding to the existing 1,200 full-time staff.
Read more/Source: Property Industry Eye
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