Mortgage Advice Bureau has agreed to acquire the Fluent Money Group for a total cash payment of c.£73m based upon an enterprise value of £95m together with a put and call option over the remaining interests.
Fluent is a technology enabled telephone advice mortgage broking platform that has developed an end to end digital customer journey, with approximately 420 employees including c.125 advisers across mortgages, second charge mortgages, later life lending and bridging finance.
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.”
The acquisition is conditional on admission of Placing Shares to trading on AIM and approval by the FCA of the change in control.
Completion of the acquisition is not expected to occur before the second half of 2022.
