The latest acquisition by Pivotal Growth follows the purchase of Select Mortgage & Financial Solutions and Select Brokers earlier this year
Pivotal Growth has announced that it has completed the acquisition of mortgage and protection brokerage John Charcol Group, with the Financial Conduct Authority (FCA) approving the move concerning a change in control.
Established in 1974, John Charcol is among the leading mortgage brokers in the UK. In 2015, the brokerage was acquired by Palatine Private Equity, which appointed Waypoint Change Limited to transform the business by growing its adviser base and introducing technology-driven initiatives. Presently, the company oversees more than 150 mortgage and protection advisers.
The latest acquisition by Pivotal Growth—the 11th since the firm was founded in 2021—follows the purchase of Select Mortgage & Financial Solutions and Select Brokers earlier this year.
With John Charcol now under its umbrella, Pivotal Growth’s total annual revenues are estimated to touch around £63 million, supporting more than 410 advisers and 615 staff members across the group. The acquisition is to be financed through Pivotal Growth’s available cash reserves.
I am absolutely delighted to welcome such an iconic brand to Pivotal Growth, said Simon Embley, chief executive Pivotal Growth. John Charcol needs no introduction to any market participant, having historically been recognised as one of the most prestigious mortgage brokers in the UK.
He added: Palatine and Waypoint have done an excellent job in transforming the business and in ensuring its profits have grown. Through further investment, our plan is to grow the adviser base and diversify and develop the product offering, which we see as a significant area for growth.
Chris Wallis, MD and chief executive of John Charcol, also welcomed the acquisition, expressing optimism for the firm’s future growth.
This transaction is great news for John Charcol. Wallis added. I look forward to working with Simon and the Pivotal Growth team to build on the growth we have seen in recent times.
