Dexters

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.

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.

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.