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Broker Charles Cameron bought by private equity firm

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  • 21/01/2019
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Broker Charles Cameron bought by private equity firm
Broker firm Charles Cameron & Associates (CC&A) has been bought by Lonsdale Capital Partners after the private equity firm took a majority stake in the business.

 

Lonsdale has promised the investment will big a wave of development into digital and mobile technology to support mortgage broker Charles Cameron’s offering.

The broker firm provides a fee-free mortgage broking service to employees alongside seminars and information on financial wellness and education.

 

Digital and mobile tools

Charles Cameron was launched in 2004 by majority owners Simon Nimmo and Peter Smith.

A statement released by Lonsdale said Nimmo will continue as CEO post-completion and will roll over a significant proportion of his sale proceeds.

However, Lonsdale confirmed to Mortgage Solutions that Smith would continue to work with the business as an introducer.

But it did not reveal how much it has invested with the deal.

The statement added that Charles Cameron intends to expand its base of corporate partners, as well as its network of specialist employee benefit providers.

“Alongside the mortgage broking surgeries, the company plans to expand its capabilities so that it can serve clients when it suits them, including digital and mobile tools to allow clients to access the service anywhere,” it said.

 

Enhancing service

Lonsdale Capital Partners director Andy Chetwood said: “In CC&A, we are backing a business that fulfils Lonsdale’s key investment criteria: a growing sector, a strong market position and a highly capable management team.

“CC&A has a fantastic distribution model with no direct competitors and strong relationships with an impressive group of blue-chip corporates.

“The company has grown fast, and we expect this to continue as corporates look to improve the benefits they offer their employees,” he added.

He noted that Nimmo had a huge amount of experience in the mortgage industry, and the firm was looking forward to working with him and the management team.

CC&A founder and CEO Simon Nimmo said: “CC&A enables businesses to offer their staff high quality advice when they are making one of their most important financial decisions.

“The proliferation of mortgage products and the increasing scrutiny of application suitability on the part of providers has made this a complex and demanding process.”

He added: “Working closely with our new investment partner Lonsdale, we look forward to enhancing the service that we provide, as well as increasing the number of organisations – and in turn the number of employees – that we advise.”

 

 

 

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