Aggregator Pivotal Growth has expanded its portfolio with the acquisition of Grange Mortgage and Protection Services.

Grange is a specialist new build mortgage brokerage, based in Northampton. It has been trading for 15 years.

Pivotal Growth was established in April last year, as a joint venture between LSL Property Services and Pollen Street Capital to buy and build a national mortgage adviser.

This is its second purchase, after having acquired the Scottish mortgage broker Lifetime Finance Group in December 2021.

The group says it is currently in discussions with “a significant number of other brokerages”, and further acquisition announcements are expected in the near future. It is understood to have a war chest of at least £200m to fund future purchases. 

Pivotal Growth did not disclose the price it had paid for Grange.

Pivotal Growth chief executive Simon Embley says: “We see the new build sector playing an important role in our growth plans.” He says the company was looking to develop the Grange business further as a result of this deal.

Grange managing director Daniel Mumford says: “We see this investment by Pivotal Growth as an important step for Grange, which will give us access to capital and technology that is becoming increasingly important to address the needs of all stakeholders we support in the dynamic new build and re-sale sectors.”