Mortgage Advice Bureau (MAB) has completed its purchase of a controlling stake in intermediary The Fluent Money Group which values the firm at more than £96m.
MAB bought 75.4% of Fluent Money for £72.7m with options to buy the remaining shareholdings also in place.
MAB said the transaction is expected to be significantly earnings enhancing in the first full year post acquisition which will be the year ending 31 December 2023.
It added that it will “work closely with Fluent’s management team to drive higher margin retention and protection opportunities within Fluent”, and that it expects to rapidly progress through its focused integration plan post completion.
MAB chief executive officer Peter Brodnicki said the firm was very excited to partner with a like-minded management team and high growth intermediary.
“This acquisition is a perfect example of our strategy to invest in complementary businesses and platforms to help accelerate growth by broadening our proposition to access more customers,” he said.
“MAB has targeted the fast-growing sector of national lead generation by using technology to link together its key appointed representatives and invested firms seamlessly.
“Combined, we expect that Fluent and MAB will be able to grow this new market share opportunity quickly and effectively, complementing the local/regional strategy delivered by the rest of MAB’s growing distribution.”