Dwelly has made its first foray into the London lettings market with the acquisition of Eden Harper, its third deal of the year.
The transaction expands Dwelly’s footprint in the capital and adds approximately 250 fully managed properties to its portfolio. It follows a period of growth for the company, including recent funding of £69m.
Founded in 2002 by Richard Sims and Ajay Gopal, Eden Harper operates across south west London, including Brixton and Battersea.
Following the acquisition, Sims will remain in the business as managing director, while Gopal will step down. The deal was brokered by Atomic Consultancy.
Sims said: “Since launching Eden Harper, our focus has always been on providing the highest possible level of service to our landlords, tenants and vendors in Brixton, Battersea and the surrounding areas.
“As the business has grown, it was important to find a partner who recognized the value of what we had built and shared our belief that the strength of a local agency lies in the people, relationships and reputation behind it.
“From the outset, it was clear that Dwelly places real importance on preserving the things that make the businesses it acquires successful.”
Sam Humphries, head of M&A at Dwelly, said the deal is an important step for the business. “We are delighted to have completed our third acquisition of the year and in doing so mark our first foray into the London rental market,” he said.
“Richard and Ajay have built an excellent business with a strong reputation in South West London, and this is exactly the type of agency we want to partner with.”