Dexters

Sector
Consumer
Fund
Fund IV
Year
2021
Location
UK
Status
Current

London’s leading independent Chartered Surveyors and Estate Agents.

Key facts

Branches

c.100

across Greater London

Lettings

66%

of revenues from recurring business

Acquisitions

60+

successful M&A track record

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.

Kensington Gardens Square Dining Room

A consistent track-record of growth and cash generation

The Company has a long and consistent track-record of growth and cash generation through economic cycles, growing revenue at a 15% compound annual growth rate over the last 10 years.

Central to its success is the Company’s focus on lettings and property management, an area of the market that provides a resilient, recurring income, along with attractive market fundamentals due to the growing proportion of property that is privately rented.

Dexters – Shepherd Bush Office

Attractive market fundamentals

Central to its success is the Company’s focus on lettings and property management, an area of the market that provides a resilient, recurring income, along with attractive market fundamentals due to the growing proportion of property that is privately rented.

Our investment 

We invested in Dexters in February 2021 and are working alongside the management team to develop the company in its next phase of growth.

Our proven expertise in M&A and digitisation, as well as our experience in the property sector will help to strengthen and build the proposition of the brand. In early 2022, Oakley supported Dexters’ acquisition of Howsy, a digital lettings and property management platform, providing a launchpad for a new, digital-only, lettings focused offering.

Quote Jeff Doble

Our vision has always been to be the No. 1 estate agency in London. As we look to move to a new level, we are excited to be partnering with Oakley Capital to help us work towards our ambitious long-term plans.

Jeff Doble

Founder & Chairman Dexters London Limited

Market dynamics

Dexters has considerable scope for further growth and is well positioned to grow both organically and through acquisitions of smaller competitors in its target areas. The estate agency market remains highly fragmented and Dexters has consistently demonstrated a track-record of accretive M&A.

Our origination network helps us source investments others cannot. Often, we are the first institutional investor in our portfolio companies.

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