Begbies Traynor Group has acquired Mantra Capital, a London-based property finance broker, for a total consideration of up to £18m.

Following the acquisition, the group will launch BTG Funding Solutions, a finance broker spanning a range of sectors.

Mantra operates with a team of 23 employees, including two directors in London.

The team will bring expertise across both commercial and residential real estate lending.

Mantra also arranges finance for trading businesses, and residential mortgages as well as insurance broker services to their commercial clients.

The purchase of Mantra follows the acquisition of MAF Finance Group. Mantra and MAF Finance Group will form BTG Funding Solutions with expertise across sectors including real estate, construction, engineering and manufacturing, haulage, healthcare, agriculture, renewables and vehicles.

The combined team of 70 employees provides national coverage and has arranged finance of more than £800m for clients over the last twelve months.

Mantra Group managing director Nimesh Sanghrajka says: “The acquisition of Mantra Group by Begbies represents a desire to create a market-leading debt advisory, mortgage, and insurance business. Begbies has grown both organically and via acquisition over the years, and the addition of Mantra Group continues that trajectory.”