Pivotal was launched back in April as a joint venture between LSL Property Services and Pollen Street Capital. The firm aims to buy and build a national mortgage advisor and has a war chest of at least £200m to fund acquisitions.
LFG has been established for over 25 years and is one of the largest mortgage brokers in Scotland, with a particular focus on advising contractors and self-employed clients.
Pivotal said it is currently discussing a significant number of other potential opportunities and expects to complete further transactions in the near future.
Simon Embley (pictured), chief executive officer of Pivotal Growth, said: “I am pleased to confirm that Pivotal Growth has successfully concluded the acquisition of Lifetime Finance Group. We are particularly excited to be able to work with Gordon and his team to develop the business further.”
Gordon Hunter, managing director of LFG, added: “Pivotal Growth is an ideal partner, and I am delighted to be retaining a minority investment in the business, particularly due to the future opportunities that this brings.
“Investment by Pivotal will give us the capital and technology that is becoming increasingly important to be able to satisfy the growing demands of all stakeholders, including, consumers, lenders and the regulator in a fast moving dynamic market. “
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