MAB to acquire Fluent Money Group

Mortgage Advice Bureau has agreed to acquire approximately 75% of Fluent Money Group for a total cash payment of £73 million.

Related topics:  Mortgages,  Specialist Lending
Rozi Jones
28th March 2022
Peter Brodnicki MAB new
"This acquisition is a perfect example of our strategy to invest in complementary businesses and platforms to help accelerate growth by broadening our proposition."

MAB has entered into a shareholders' agreement with founders/management who will be retaining 25% of the issued share capital of Fluent at completion, with the option for MAB to acquire the remaining stake after six years.

Fluent has approximately 420 employees including 125 advisers across first and second charge mortgages, later life lending and bridging finance.

The acquisition will be funded from renewed and increased debt facilities, existing cash resources and the proceeds of a proposed placing of new ordinary shares in the company to raise c.£40 million.

Completion of the acquisition is not expected to occur before the second half of 2022.

Peter Brodnicki, founder and CEO of MAB, said: "We are very excited to partner with a like-minded management team and high growth intermediary that is a leader in centralised telephone mortgage advice. This acquisition is a perfect example of our strategy to invest in complementary businesses and platforms to help accelerate growth by broadening our proposition.

"MAB has targeted the fast-growing sector of national lead generation by using technology to link together its key Appointed Representatives and invested firms seamlessly. Combined, we expect that Fluent and MAB will be able to grow this new market share opportunity quickly and effectively, complementing the local/regional strategy delivered by the rest of MAB's growing distribution."

More like this
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.