LSL has announced that Pivotal Growth has completed its first acquisition, Lifetime Finance Group.

LSL hopes that Pivotal Growth, a recently launched joint venture with Pollen Street Capital, will “buy and build” to become a leading national mortgage broker. It is planned that at least £200m will be made available by way of equity and debt to fund acquisitions.

Lifetime Finance Group has been established for over 25 years and is one of the largest mortgage brokers in Scotland, with particular expertise in advising contractors and self-employed clients.

LSL reports that Pivotal Growth is currently discussing a significant number of other potential opportunities and expects to complete further transactions soon.

David Stewart, group chief executive of LSL, commented: “I am pleased to confirm that Pivotal Growth has successfully concluded the acquisition of Lifetime Finance Group.

“The Pivotal Growth management team is in active discussion with a number of other brokers that it believes would benefit considerably by being part of Pivotal Growth and we expect to confirm further deals in the early part of 2022.”