Mortgage broker Flexible Mortgages Limited (FML) is to be bought by Lamensdorf Group Plc, the UK-based international wealth management business.
The move marks Lamensdorf’s first step in creating a significant presence in the mortgage field, as part of a long-term expansion strategy of offering a wider range of products. The company has said that other acquisitions will follow in 2002.
Lamensdorf chairman and CEO, Ken Newell, said: ‘By acquiring FML we are demonstrating our belief in the mortgage market by acquiring an excellent team and client base. This has been a long-term goal and one that is part of our strategic growth strategy prior to seeking a listing for our stock next year.’
The FML chairman, Geoff Ivesson, will join the Lamensdorf board as sales and marketing director.