Pivotal Growth has bought Embrace Financial Services – which specialises in providing mortgage and protection advice to estate agencies – and First2Protect – which arranges household insurance for customers of LSL’s estate agency division as well as third party introducers.
Pivotal Growth was established in 2021 as a joint venture between LSL and Pollen Street Capital to buy and build a national mortgage adviser “powered by technology, first-class regulatory compliance, and exemplary customer service”.
These deals bring the total number of acquired businesses to eight which includes RSC and Group First, both of which were acquired in January.
Tom Adorian, chief executive of Embrace Financial Services and First2Protect, said there were many opportunities within the Pivotal group of companies and in the general insurance market that would drive the growth of both businesses.
He said: “Pivotal Growth continues to expand and build its reputation as a leader in the UK mortgage and protection market, with the acquisitions of Embrace Financial Services and First2Protect following the purchase of RSC and Group First in January.”
Simon Embley, chief executive of Pivotal Growth, said: “Building on our momentum into 2023, I am delighted to welcome Embrace and First2Protect into the Pivotal Growth group to expand our proposition into the estate agency market and increase our presence and distribution in the general insurance market.”
Pivotal Growth – with funding of £200mn behind it from Pollen Street Capital – bought its first brokerage, Glasgow’s Lifetime Finance Group, in December 2021.
amy.austin@ft.com
