REG - LSL Property Svcs. - Acquisition By Pivotal Growth

LSL Property ServicesAnnouncement

24/05/2022 07:16

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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
£41bn 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 £2bn 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 (http://www.pollencap.com)

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