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CMS advises on investment into Dexters London

23 February 2021

CMS has advised the founder and management team at Dexters London, London’s leading independent Chartered Surveyors and Estate Agents, on an investment led by funds advised by private equity firm Oakley Capital. Dexters’ founder and management team are co-investing alongside Oakley Capital.

Dexters was founded in 1993 as a single branch in Twickenham and has since grown to a network of 87 branches across Greater London through a combination of organic growth and acquisitions, and plans to grow its business both organically and through new office openings and acquisitions of smaller competitors in its target areas. Dexters also has plans to digitalise its business to allow it to deliver its services via multiple channels.

Commenting on the deal, Jeff Doble, Dexters’ founder and chairman said:
“Whilst not one for testimonials I offered this after dealing with CMS - I expected talented lawyers and hard work - what surprised me was that Alasdair, Tom, Aaron and their team worked together on our deal with a passion. They were patient, listened well and took time to understand our business then tailored their approach. Seriously impressive outfit.” 

Alasdair Steele, CMS Corporate partner and lead advisor on the deal, comments: “Jeff Doble and his team at Dexters have successfully grown the business from a single branch in 1993 to one of London’s leading estate agents and independent chartered surveyors, even through the past year of COVID-19 disruption. We are very pleased to have been able to help the Dexters team as they partner with Oakley Capital to take the exciting next step in implementing their ambitious growth plans.”

Tom Jameson, CMS Private Equity Partner, adds: “We were delighted to advise Dexters’ management team on this important transaction, which will provide Dexters and its management with the support needed to accelerate its future plans. We look forward to their growth under Oakley’s backing. The completion of this transaction adds to a very busy year for our PE team, working on both management side transactions, as well as for sponsors, and the completion of this deal within the transaction timetable is a testament to the strength and expertise of that team”.

The CMS team was led by Corporate partner Alasdair Steele and Private Equity partner Tom Jameson. They were supported by: Elliot Cowan, senior associate, and Beale Stronach, Ian McKie and Brodie Thomson, associates in the Corporate team; Aaron Fairhurst, partner in the Tax team, Sarah McMaster and Rebecca Stewart, senior associates, and Ellie Pardy, associate in the Tax team; Ruth Marken, partner, and Yasmin Musker, associate in the Banking and Finance team.