LSL sells two firms to private equity firm Pivotal Growth – Mortgage Strategy

LSL sells two firms to private equity firm Pivotal Growth – Mortgage Strategy

LSL has sold Group First – which comprises Mortgage First and Insurance First – and RSC New Homes to Pivotal Growth.

Both firms specialist in the new-build sector.

Pivotal Growth was established in April of 2021 as a joint venture between LSL Property Services and private equity investors Pollen Street Capital with the aim of buying and building a national mortgage adviser.

Its actions in 2022 included buying specialist new broker Grange Mortgage and Protection Services in February, The Loan Partnership in May, and The Buy to Let Broker in July.

RSC New Homes and Group First will continue to act as appointed representatives of Primis, itself part of LSL.

Pollen Street Capital partner Ian Gascoigne says: “We’re thrilled to welcome both RSC and Group First to Pivotal Growth. These businesses complement the previous acquisition of new-build specialist Grange, and further strengthen Pivotal’s position in the new-build sector, which we see as a core part of our growth plans.”

And Pivotal chief executive Simon Embley comments: “I am delighted to welcome RSC and Group First into the Pivotal Growth group and to start the year with the strong momentum of two acquisitions.

“Through investment in their people, systems and technology, we plan to organically grow these businesses to further cement our position as a leading player in the new homes market, where we will continue to explore opportunities in the future.”

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