Mortgage and protection aggregator Pivotal Growth has bought Scottish mortgage broker Lifetime Finance Group for an undisclosed amount.
The aggregator says Lifetime Finance Group was founded 25 years ago and is one of the largest mortgage brokers in Scotland, with a particular focus on advising entrepreneurs and independent clients.
Pivotal Growth is a joint venture between London-listed LSL Property Services and investment firm Pollen Street Capital, formed in April to buy and build a leading national mortgage adviser.
The move is the first acquisition for Pivotal Growth, which has a war chest of at least £ 200million to fund the purchases.
The aggregator says it “is currently discussing a significant number of other potential opportunities and plans to close more deals in the near future.”
Simon Embley, Managing Director of Pivotal Growth, said: “I am delighted to confirm that Pivotal Growth has successfully completed the acquisition of Lifetime Finance Group.
“We are particularly excited to be able to work with Gordon and his team to further develop the business. “
Lifetime Finance Managing Director Group Gordon Hunter adds: “Pivotal Growth is an ideal partner, and I am delighted to maintain a minority investment in the company, especially given the future opportunities this presents.
“Pivotal’s investment will give us the capital and technology that are becoming increasingly important to be able to meet the growing demands of all stakeholders, including consumers, lenders and the regulator in a dynamic and rapidly changing market. “