BetterHome Group acquires Mortgage Support Services Ltd
The deal, subject to FCA change in control approval, will help MSS, the group behind Stonebridge Mortgage Solutions, to grow further.
BetterHome Group has acquired Mortgage Support Services Ltd (MSS), a technology-led financial services provider in the UK property market.
The deal is subject to Financial Conduct Authority (FCA) change in control approval.
The advisory team supported BetterHome Group with M&A and debt advisory.
The investment will help MSS, the group behind Stonebridge Mortgage Solutions, to grow further.
Stonebridge and HLPartnership will continue to run as separate networks.
Rudi Botha, group CEO at BetterHome Group, said: “MSS is a strong and well-respected business, with talented people, an established proposition and trusted relationships with its member firms and partners.
“We have great respect for what Rob Clifford and his colleagues have built and for the culture and commitment to members that make Stonebridge distinctive.
“Our ambition is to support MSS in the next phase of its growth, building on the strengths of the business and the strategy already in place.”
Botha added: “An important part of that is creating the right environment for member firms to grow their businesses and continue delivering for their customers.”
Rob Clifford, founding director of Mortgage Support Services and CEO of Stonebridge, said: “In BetterHome, we have a new parent which has decades of experience in the mortgage sector, understands the importance of the relationships we have built with our member firms and partners, and fully supports our strategy.
“The BetterHome team recognised the strength of the MSS family of businesses and has bought into the strategy that has delivered our sector-leading growth.
“This is a great fit and a significant vote of confidence in the business.”
Greg Cant, managing director and head of financial services at Clearwater, said: “This transaction brings together complementary expertise and a shared ambition to support growth across the property and mortgage market.
“BetterHome Group’s investment demonstrates its commitment to the UK market and provides a strong platform for continued investment in technology, services, and people.”
Tom Barnwell, managing director, debt advisory at Clearwater, said: “We were pleased to support BetterHome Group in securing debt financing for its acquisition of MSS.
“The financing provided by Investec, HSBC and OakNorth reflects the high quality of both businesses and gives further capacity to support the group’s strategic ambitions in the UK.”
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