LSL-backed joint venture Pivotal Growth has acquired advice firm Grange Mortgage and Protection Services, its second acquisition since launch with more expected to follow.
Grange is a specialist new build mortgage and protection insurance brokerage based in Northampton and has been providing advice to clients across the UK for more than 15 years.
Pivotal Growth was launched in April last year as a joint venture between mortgage and protection intermediary service provider LSL and specialist private equity investor Pollen Street in a bid to “buy and build” a leading national mortgage broker.
LSL owns the Primis advice network and also operates The Mortgage Alliance mortgage club.
This latest acquisition follows Pivotal Growth’s purchase of Lifetime Finance Group in early December 2021.
And Pivotal Growth revealed its management team is in active discussion with a number of other firms that it believes would benefit from being part of the group. It added it expects to confirm further deals in the near future.
Terms of the deal were not disclosed.
Commenting on the deal, Simon Embley, chief executive officer at Pivotal Growth said the firm saw the new build sector playing an important role in its growth plans, adding it was excited to work with Grange managing director Daniel Mumford and the team to further develop the business.
Mumford added that Pivotal Growth’s investment was an important step for Grange, which would allow it to access capital and technology that is increasingly important to address stakeholder needs in the new build and resale sectors.
