Crystal Specialist Finance, the specialist finance distributor, has secured investment into the business – a move, it says, has been made to accelerate its growth ambitions in the sector.
The passive, minority shareholding has been purchased by Pagos Holdings I Limited (“Pagos”) for an undisclosed sum.
Crystal said the investment will be used in conjunction with its capital reserves to fund its own acquisition strategy. This will include the identification and purchase of companies who complement Crystal’s current offering which serves mortgage brokers and professional introducers.
Crystal is a specialist finance distributor providing commercial finance, bridging loans, second-charge mortgages, development finance, specialist residential and buy-to-let mortgages.
Crystal said the new investment was designed to allow it to take advantage of significant opportunities within the specialist finance market, and as a result meant it could bring forward plans to grow its operation.
The business said it was currently in advanced negotiations with a number of specific companies that it is seeking to bring on board.
Crystal said it would make further announcements on these potential deals as they progress.
Jason Berry (pictured), group sales & marketing director, said: “The specialist market is set to offer huge opportunity during the next few years, so this new investment coupled with our own acquisitional funds comes at the perfect time for us. It provides a war chest which we will use with diligence to grow both organically and through acquisition.
“Brokers and introducers are at the heart of everything we do. We will therefore continue to invest in technology, so the slickest and quickest submission journey is delivered, plus we will buy and then support good businesses who complement what we do.
“We particularly want to ensure brokers and introducers, who are maybe overwhelmed with current opportunities, have a simple and trusted referral solution.
“Our specific proposition is an attractive one to investors because of the depth of experience and activity we deliver in the specialist market. Based purely on the value of the loans Crystal completed in 2021, if we were a specialist lender, we would be comfortably sitting at the top table.
“This is an exciting development for Crystal and one which will only enhance the proposition we offer our broker and professional introducer partners. There is much more to come in the very near future.”
Martin Reynolds, CEO of Simply Biz Mortgages, added: “2022 is set to be a very busy year for mortgage brokers with a record high number of cessations plus the continuation of a very active purchase market.
“This can create time challenges when it comes to placing, administrating and completing on complex applications. Therefore, those specialist distributors who best deliver referral solutions or alternatively support brokers with accurate placement, accompanied by consistent service, will prosper most. It is very positive to see a firm like Crystal looking to invest in and support this growing market.”
