Pivotal Growth was established in April 2021 as a joint venture between LSL Property Services Plc and Pollen Street Capital, to buy and build a national mortgage adviser.

It is planned that at least £200m will be made available to fund acquisitions.

The acquisition of Grange follows Pivotal Growth’s announcement of its first acquisition in early December 2021, and the group is currently in discussions on a number of other opportunities, with several in due diligence and expected to complete in the near future.

Simon Embley, chief executive officer of Pivotal Growth, said: “I am pleased to confirm that Pivotal Growth has successfully concluded the acquisition of Grange Mortgage and Protection Services.

“We see the new-build sector playing an important role in our growth plans and we are particularly excited to be able to work with Dan and his team to develop the business further.”

Daniel Mumford, managing director of Grange, said: “Pivotal Growth is an ideal partner for Grange, and I am looking forward to working with the Pivotal Growth team to continue grow the business.

“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.”