The Property Franchise Group is spending £2.5m to buy a 25% equity interest in a residential surveying business.
The investment is in Meridian HoldCo, the parent of Legal & General Surveying Services (LGSS).
A statement to shareholders says the move is part of the group’s acquisition strategy, which targets four areas:
- the acquisition of property franchisors;
- financial services acquisitions that broaden the group’s adviser network;
- complementary businesses that develop and extend the TPFG platform; and
- the acquisition of lettings books which are then transitioned into the Group’s owned offices.
LGSS is a long-established UK residential surveying business, providing valuation, panel management, survey and assisted automated valuation services to banks, building societies and specialist lenders.
LGSS is owned by Meridian, which was formed in 2025 as the acquisition vehicle through which LGSS was carved out of Legal & General Group plc in November 2025.
Gareth Samples, Chief Executive Officer of TPFG, comments: “We are delighted to have taken a strategic minority stake in Meridian, the owner of Legal and General Surveying Services, a business with deep heritage, strong lender relationships and a clear runway for growth following its recent separation from Legal & General.
“Residential surveying is a natural adjacency to our franchise and financial services divisions, and this investment further strengthens TPFG’s participation in the mortgage value chain while maintaining our strong balance sheet position.”
And Richard Sexton, Managing Director of LGSS, adds: “TPFG is a natural strategic partner for LGSS.
“Their reach across the UK residential property market, combined with their established mortgage distribution networks, is highly complementary to the services we provide to our lender clients. This investment provides additional firepower for our growth.”