HML Acquisition of Scotts of Putney

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HML Holdings plc, a leading provider of property management, insurance and ancillary services to residential property, is pleased to announce that the HML Group continues to grow with the acquisition of Scotts of Putney.

We look forward to working with the team at Scotts to greatly enhance our service offering in the central and west London areas. We are delighted to welcome Scotts to the HML Group.

Scotts is an independent firm of Managing Agents and Surveyors, established in 1976, and is based in Putney, London SW15. Scotts’ current portfolio consists of over 3,000 units under management, situated mainly in central and west London. The team of experienced surveyors, property managers and support staff will become part of HML Shaw Ltd, HML Holdings’ Richmond upon Thames based subsidiary. Scotts will remain in its two offices in Putney, retaining the Scotts brand and, in due course, becoming HML Scotts.

Scotts had unaudited revenues of approximately £1.8 million with normalised profits of £300,000 for the year ended 31st December 2010. The acquisition is expected to be immediately earnings enhancing and provides substantial opportunities for HML to cross sell its insurance and ancillary services. This latest acquisition forms part of HML’s ongoing expansion programme, providing the Company with a strengthened presence in prime areas of London.

Commenting on the acquisition, Robert Plumb, CEO of HML, said: “This acquisition is consistent with our strategy to consolidate our presence in focused geographical areas by acquiring and integrating businesses with strong underlying portfolios. In Scotts we have found a partner that fulfils this criterion and has the quality of service culture that is entirely compatible with our own. We look forward to working with the team at Scotts to greatly enhance our service offering in the central and west London areas. We are delighted to welcome Scotts to the HML Group."

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Robert Plumb

Sian Lewis
HML Holdings plc
+44 208 439 8529
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