LSL has announced that Pivotal Growth has completed the acquisition of Grange Mortgage and Protection Services Limited.

Grange is a specialist new build mortgage and insurance brokerage based in Northampton and has been providing advice to clients purchasing new build properties across the UK for over 15 years.

This is second acquisition by Pivotal Growth, a joint venture with Pollen Street Capital, following the purchase of Lifetime Finance Group in December. Their strategy is to “buy and build” to become a leading national mortgage broker. It is planned that at least £200m will be made available by way of equity and debt to fund acquisitions.

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 Grange follows Pivotal Growth’s announcement of its first acquisition in early December 2021, 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.

Daniel Mumford, managing director of Grange, said: “Pivotal Growth is an ideal partner for Grange, and I am looking forward to working with the Pivotal Growth team to continue grow the business. We see this investment by Pivotal Growth as an important step for Grange, which will give us access to capital and technology that is becoming increasingly important to address the needs of all stakeholders we support in the dynamic new build and re-sale sectors.”

LSL reports that Pivotal Growth is currently discussing a number of other potential opportunities and expects to complete further transactions soon.

David Stewart, group chief executive of LSL, commented: “I am pleased to confirm that Pivotal Growth has successfully concluded the acquisition of Grange Mortgage and Protection Services. We see the new build sector playing an important role in our growth plans and we are particularly excited to be able to work with Dan and his team to develop the business further.”