Property management company HML Group, the name behind buildings insurance broker Alexander Bonhill, has acquired Worthing-based Leasehold Management Limited (LML) for £438,000.
The purchase, which will involve an additional payment for surplus working capital at completion, will see all LML employees remain – managing 1,222 units in 81 blocks. Founder Peter Ballam, however, is moving on to retirement.
Lifting the lid on the swoop, HML chief executive Alec Guthrie noted: “The acquisition is in line with the group’s strategy of acquiring leasehold management businesses that can quickly be integrated into the group and that provide further regional coverage.
“We are pleased to welcome all the team at LML into the HML Group.”
