MAB labelled the double takeover as a “milestone moment” in its growth in the new-build market.
The strategic transactions mean that, once merged, the new organisation will have a national team of more than 120 brokers responsible for arranging in excess of £2bn of lending per year.
The name of the new business remains under discussion.
The expanded group will also incorporate Metro Finance and William Lowden – already part of the Meridian portfolio.
Jason Blunden of Evolve and Allan Warren of Meridian will continue to lead the combined business as group sales director and group managing director respectively.
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With a new-build operation in its full ownership, MAB said the deal gives it substantial scope to expand its market share.
Significant step forward
Felicity Barnett, new-build and affordable housing partnerships manager at MAB, said: “The completion of the Evolve and Meridian acquisitions is a milestone moment for Mortgage Advice Bureau, and a significant step forward in our strategy to strengthen our position within the specialist UK new-build sector.
“Bringing these two businesses together under MAB’s full ownership, and creating one of the largest new-build mortgage brokerages in the UK, immediately enhances our scale and proposition.
“With in-depth expertise and access to MAB’s state-of-the-art technology, both firms are perfectly positioned to deliver exceptional value to developers and homebuyers.
“This transaction is essential to creating a fully owned, dedicated new-build operation that is robustly equipped to seize future market opportunities. We look forward to working with the teams at Evolve and Meridian to achieve the long-term vision we share for the new-build sector.”
