Mortgage Advice Bureau (MAB) has announced the acquisition of Fluent Money Group.

MAB has agreed to buy 75% of the firm for a cash payment of £73m based on an enterprise value of £95m.

Alongside this initial move, MAB has negotiated a put and call option to buy the remaining 25% of Fluent in six years “at a valuation subject to performance criteria relating to future growth and profitability to align with MAB’s growth objectives,” capped at £118m.

Fluent is expected to post revenue of £38.5m and adjusted EBITDA of £4.2m in the year ending 31 March, growth of 45% year-on-year and 118% year-on-year, respectively.

MAB founder and chief executive Peter Brodnicki says: “We are very excited to partner with a like-minded management team and high growth intermediary that is a leader in centralised telephone mortgage advice.

“This acquisition is a perfect example of our strategy to invest in complementary businesses and platforms to help accelerate growth by broadening our proposition.

“MAB has targeted the fast-growing sector of national lead generation by using technology to link together its key appointed representatives and invested firms seamlessly.

“Combined, we expect that Fluent and MAB will be able to grow this new market share opportunity quickly and effectively, complementing the local/regional strategy delivered by the rest of MAB’s growing distribution.”