This is the 11th acquisition since the company was established in 2021
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.
Founded in 1974, John Charcol is among the pioneering 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-led initiatives. Currently, the firm oversees over 150 mortgage and protection advisers.
The latest acquisition by Pivotal Growth—the 11th since the company was established in 2021—follows the purchase of Select Mortgage & Financial Solutions and Select Brokers earlier in 2024.
With John Charcol now under its umbrella, Pivotal Growth’s total annual revenues are projected to reach approximately £63 million, supporting over 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 (pictured), 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.
“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, managing director and chief executive of John Charcol, also welcomed the acquisition, expressing optimism for the company’s future growth.
“This transaction is great news for John Charcol.” Wallis said. “I look forward to working with Simon and the Pivotal Growth team to build on the growth we have seen in recent times.”
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