Formed in 1993 as a single office in Twickenham, the firm has grown to become one of the capital’s largest estate agents with over 1,200 full-time staff, a global profile and recognised by peers as a leading operator in the highly competitive London property market. Despite being closed for two months last year due to COVID-19 turnover has risen from just over £100 million in 2019 to £109 million in 2020.
Peter Dubens, Managing Partner of Oakley Capital, commented: “Dexters focus, drive and strong management has delivered consistent performance and growth where others in the property sector have faltered. We look forward to being a part of Dexters’ next phase of growth, contributing our proven expertise in digitisation, and drawing on our experience in the property sector.”
Jeff Doble, Founder and Chairman of Dexters, added: “Despite the challenges of Brexit and COVID-19 Dexters has continued to build market share and presence across London with new office openings, consistent rises in our sales and lettings performance and an increasing number and quality of new property instructions and new registrations each quarter. This is testimony to all our colleagues working tirelessly to look after our clients and focus on sustaining the growth of the business. Our vision has always been to be the No.1 estate agency in London and as we look to move to a new level we have decided to partner with Oakley Capital to help us work towards our ambitious long term plans.
“Dexters is a highly successful and profitable business and we are focused on expanding our network of offices and services even further in the London market. Our partnership with Oakley Capital and its investment in the business will provide Dexters with an additional cushion of financial strength and the funds to expand whilst keeping the business highly stable and secure.”
Dexters’ managers and the company’s Employee Benefit Trust will increase their combined shareholding in the business to over 30%, giving them a significant stake in the future success of the company.
The management team remains unchanged, with Andy Shepherd as CEO, Ash Kashyap as CFO and Jeff Doble as Chairman.
For the next three years, Dexters plans to expand into the Build-to-Rent sectors and wider lettings market and to grow its online presence with more online and social media marketing. The business has already witnessed a busy start to 2021 with both sales and lettings deals running at record levels and working with over 114,000 buyers and tenants currently looking for a new London home, up 25% on 2020.
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