Tuesday, August 11, 2020

Hortons attracts private equity investment

Hortons, the estate agency start up established in 2016 by Leicester-based entrepreneur, Adam Horton, has received a substantial six figure investment from Dunelm Partners, a private investment syndicate, with one of the firm’s founding partners, James Johnson, taking a seat on the board.

Mr Johnson is a former Partner in Clifford Chance LLP, and was previously a director of Leicester City FC, having been one of the five people who set up the Lineker consortium to rescue the club from administration in 2003.

Hortons’ head office is in Loughborough and the company currently covers Leicestershire and Nottinghamshire. Hortons plans to use the investment to build their team of agents across the East Midlands, but have their sights set on achieving national coverage within the next few years.

“The phrase ‘people buy from people’ is at the centre of our brand,” says founder, Adam. “We’re building a community of experienced estate agents, who are all self-employed. Hortons helps them to develop their personal brands and build their businesses, establishing themselves as local experts whilst paring them with cutting edge technology.

“This means Hortons’ clients deal with only one agent, who will manage every aspect of their move, from initial advice, marketing & viewings, through to negotiating offers and navigating the conveyancing process.”

Rik Pancholi, director of Leicester-based Pattersons Commercial Law who advised Hortons on the investment deal, says: “Hortons has a fantastic business model that is bringing a very modern and highly entrepreneurial approach to the estate agency market. It is a very flexible and innovative way of simultaneously creating value for the agents, the brand and ultimately the customers, who get that local service backed by expert support.

“This is a market that is crying out for innovation and one that we are very active in as a firm. Adam and the Hortons team have seen this and have been bold in taking action, creating a very attractive investment proposition with huge scope for scale, with what will now be invaluable support from working with James Johnson and Dunelm Partners.”

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