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Connells acquires N&P company

Connells has announced the acquisition of Hockleys from Norwich & Peterborough.

29 October, 2007

Connells Group already owns one bigUK surveying company, Connells Survey & Valuation, and this latest acquisition is part of the Group's ongoing strategy to secure good investments that compliment its core business.

This year the Group will sell 80,000 homes, place £6bn mortgages across its limited Panel of Lenders and handle over 350,000 surveys for a wide range of clients.

Over the last four years Connells has successfully acquired companies including estate agents Sequence, Sharman Quinney and specialist mortgage intermediaries ONN Financial and New Homes Mortgage Helpline. These acquisitions have further helped to strengthen Connells' leading position within the estate agency and mortgage markets.

Alongside the acquisition, Hockleys has secured an exclusive five-year panel management contract to undertake all Norwich & Peterborough's valuations including business generated through its Astra Mortgages brand, in addition to its established panel management contracts.

Connells' group director, David Livesey, said: "Hockleys is a thriving business with an ambitious team and significant potential. We now have two great surveying businesses with over 300 chartered surveyors across the Group. We are now ideally placed to increase our overall capacity in the market significantly and further enhance service delivery to our partner clients."

Hockleys already provides valuation services to a number of key lenders and other important clients. As a result of joining Connells Group, Hockleys will be now be able to build even closer links with all its clients, other surveying companies and suppliers. Operating with cutting edge technology and to the same Quality Assurance standards as elsewhere in the market, Hockleys is well placed to extend its services and grow further.

Richard Lloyd will continue in his role as Hockleys managing director. He said: "We are thrilled to become part of the Connells Group, whose vision and expertise will enable Hockleys to be even more successful and become a bigger dedicated surveying business moving forward."

Ross Bowen, managing director of Connells Survey & Valuation added: "Hockleys is a well respected company and will be a major asset to the Group. I look forward to working with Richard and the entire Hockleys team."

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