Grange was launched in 2005 by Daniel and Emma Mumford and has grown to 27 members of staff. It specialises in new builds, including Help to Buy and shared ownership, but also offers protection services and other mortgage products.
Pivotal was launched in April last year as part of a £200m joint venture between LSL Property Services and investors Pollen Street Capital.
It aims to build a national mortgage adviser driven by technology, along with high quality regulatory compliance and customer service.
The company made its first acquisition of Lifetime Finance Group in December, which is one of the largest mortgage brokers in Scotland.
Lifetime Finance’s brands include Aberdeen Mortgage Company, Lifetime Planning and Super Contractors. The group has a focus on advice for contractors and self-employed clients.
Pivotal said it was in discussions with a “significant number of other potential opportunities”, with a few in due diligence and expected to complete in the near future. It has made at least £200m available for acquisitions.
Simon Embley, chief executive of Pivotal, said: “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, added: “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.”
