Pivotal Growth has agreed to acquire The Loan Partnership, subject to FCA approval.
The Loan Partnership is a specialist mortgage broker based in Hemel Hempstead which was set up in 2013 by John Webb and Andy Pelley. It focuses on providing mortgage advice for second charge mortgages and bridging finance.
Pivotal Growth says its acquisition of The Loan Partnership further expands the group’s capability into the specialist second charge broking and bridging finance markets, with the group currently in active discussions with a number of other potential opportunities which will continue to build on the group’s product set and geographic presence.
Simon Embley, chief executive officer of Pivotal Growth, said: “I am delighted to welcome The Loan Partnership into the Pivotal Growth group. This acquisition will complement our existing businesses and help us build out our specialist broking capability, giving us a presence in the fast-growing second charge mortgage and bridging finance markets.
“We believe these segments will play an important role in supporting customers looking for access to alternative mortgage financing solutions. We are excited to be working with John, Andy, their management team and their people, who are renowned for providing fantastic service, and excellent customer outcomes.”
Webb, director of The Loan Partnership, added: “Pivotal Growth is the perfect partner for The Loan Partnership, and I am looking forward to working with the Pivotal Growth team to continue grow the business.
“Pivotal Growth will give The Loan Partnership access to a wider customer base due to their expansive distribution reach and access to capital and technology, that is becoming increasingly important to provide our clients with the best possible service and address the needs of all stakeholders we support in the second charge and bridging sectors. We look to the future now with even more confidence as part of the Pivotal family.”