LSL Property Services PLC Acquisition By Pivotal Growth (5171M)
May 24 2022 - 3:08AM
UK Regulatory
TIDMLSL
RNS Number : 5171M
LSL Property Services PLC
24 May 2022
24 May 2022
LSL Property Services plc ("LSL")
Acquisition by Pivotal Growth of The Loan Partnership
LSL announces that Pivotal Growth Limited ("Pivotal Growth") has
acquired The Loan Partnership Limited ("TLP"), subject to approval
of the change of control by the FCA.
TLP is a specialist mortgage broker, based in Hemel Hempstead,
that was set up in 2013, and focuses on providing mortgage advice
for second charge mortgages and bridging finance.
Pivotal Growth was established in April 2021 as a joint venture
with Pollen Street Capital, to "buy and build" a leading national
mortgage broker powered by market leading technology, first class
regulatory compliance and exemplary customer service.
The acquisition of TLP is Pivotal Growth's third acquisition
following the purchases of Lifetime Finance Group and Grange
Mortgage and Protection Services, and the Pivotal Growth management
team is in active discussion with a number of other brokers that it
believes would benefit considerably by being part of Pivotal Growth
and we expect to confirm further deals in due course.
For further information, please contact:
David Stewart, Group CEO
Adam Castleton, Group CFO
LSL Property Services plc
investorrelations@lslps.co.uk
Notes on LSL
LSL is one of the largest providers of services to mortgage
intermediaries and mortgage and protection advice to estate agency
customers, completing around GBP41bn of mortgages in 2021. It
represents around 10% of the total purchase and remortgage market
with around 2,900 financial advisers. PRIMIS was named Best Network
by Money Marketing in their 2021 awards.
LSL is one of the UK's largest providers of surveying and
valuation services, supplying seven out of the ten largest lenders
in the UK, employing around 500 operational surveyors, and
performing over 500,000 valuations and surveys per annum for key
lender clients. It was named Mortgage Surveyor of the Year at the
2021 Mortgage Awards with Money Age.
LSL also operates a network of 225 owned and 128 franchised
estate agency branches.
For further information please visit LSL's website:
lslps.co.uk
Notes on Pollen Street Capital
Pollen Street is one Europe's leading specialist private equity
investors in the financial and business services sectors, having
invested over GBP2bn since 2003 in a range of financial services
businesses across all stages of development. PSC works with
entrepreneurial management teams to build businesses that deliver
market-leading products and services to their customers in order to
create long-term sustainable success. Pollen Street has
considerable experience of the UK mortgage market and in executing
buy-and-build strategies.
www.pollencap.com
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END
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