Property valuation firm LandMark White acquires rival MVS National

Property valuation firm LandMark White Limited (LMW) has acquired rival MVS National, with the combined entity to create the largest ASX-listed valuation services business.

The combined entity will operate under the LMW brand it will have 300 employees, including 100 staff from LMW that are based in Western Australia.

“The merging of LMW and MVS helps accelerate our expansion strategy in the national services market and allows us to build on the success and strength of both organisations,” LMW chief executive Chris Coonan said.

MVS provides property valuation services to the residential, commercial and government sectors.

LandMark White earlier said in an ASX announcement that it had raised $10 million through a right issue and placement for the acquisition.