Begbies Traynor Group has acquired Mantra Capital, a London-based property finance broker, for a total consideration of up to £18m.
Following the acquisition, the group will launch BTG Funding Solutions, a financing broker covering a range of sectors.
Mantra operates with a team of 23 employees, including two directors in London.
The team will bring its expertise in the field of commercial and residential real estate loans.
Mantra also arranges commercial business finance and residential mortgage loans and insurance brokerage services to their commercial clients.
The purchase of Mantra follows the acquisition of MAF Finance Group. Mantra and MAF Finance Group will form BTG Funding Solutions with expertise across all sectors including real estate, construction, engineering and manufacturing, transportation, healthcare, agriculture, renewable energy and vehicles.
The combined team of 70 employees provide national coverage and have arranged financings of over £800m for clients over the last twelve months.
Managing Director of Mantra Group, Nimesh Sanghrajka, said: “The acquisition of Mantra Group by Begbies represents the desire to create a leading business in the debt, mortgage and insurance advisory market. Begbies has grown both organically and through acquisitions over the years, and the addition of Mantra Group continues that trajectory.