Move marks major step in its national expansion strategy
Pivotal Growth has announced the acquisition of Watts Commercial Finance, a Cheshire-based commercial mortgage broker, in a move that marks one of its largest investments to date.
Watts Commercial Finance, headquartered in Nantwich, specialises in commercial mortgages, bridging finance, buy-to-let lending, and specialist areas such as property development, invoice finance, and unsecured business loans. Founded in 2006 by managing director Phil Gray and director Andrew Watts, the firm has grown into one of the largest commercial brokers in the UK.
The acquisition is part of Pivotal Growth’s ongoing strategy to strengthen its position as a leading consolidator in the UK mortgage and protection broking market. Established in 2021, Pivotal Growth has quickly scaled up to generate revenues exceeding £70 million, with a workforce of more than 800 employees.
The latest deal is also Pivotal Growth’s 14th acquisition, after acquiring mortgage and protection broker Charleston Financial Services last year. Previous acquisitions included that of Morrison Ward Associates in July, of the John Charcol Group in April and of Select Mortgage & Financial Solutions and Select Brokers in January.
Gray will remain with the business, bringing extensive industry experience and well-established relationships with major UK commercial banks. Under Pivotal Growth’s ownership, the firm aims to accelerate its national expansion and strengthen its presence in underserved regions.
“We are incredibly excited to welcome Phil Gray, who is an outstanding business leader in the commercial broking space,” said Pivotal Growth chief executive Simon Embley (pictured). “He has built a phenomenal business in Watts Commercial Finance, and we are thrilled to be the chosen partner to support the business as it seeks to continue its very impressive growth journey.”
Gray, for his part, said he was determined to continue the growth of Watts Commercial Finance under the Pivotal Group.
“We are delighted to partner with the Pivotal Group for the next exciting chapter in Watts Commercial Finance’s history,” he said. “This partnership will allow us to grow from strength to strength, benefiting our staff, clients, and introducers alike.”
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