Brightstar Group regains controlling share in business after investor buyout

The cash deal follows a record year for the group and means the leadership team owns a 54 per cent share in the business. 

According to its financial results for 2021, which were released today, Brightstar Group posted a 28.1 per cent annual increase in turnover increasing from £8.1m to £10.4m. It added that it expects this will increase to £13.5m this year. 

It also reported a 42.8 per cent rise in capital reserves and lending increased by 31.7 per cent to £1.4bn.

The group said it was on track to complete £2.08bn in lending this year. 

Brightstar Group also expanded its workforce, with the company’s headcount increasing from 63 in January last year to 73 last month. 

Rob Jupp (pictured), group chief executive at the Brightstar Group, said: “Returning a controlling stake of the Brightstar Group to the leadership team is a massive achievement. We, rightly, looked for external investment to help us grow six years ago and because that growth has been so successful and sustained, we are now in a position where we have been able to buy those shares back.  

“It’s an opportunity that very few businesses have, and it means that we have regained and retained our independence – we don’t have to answer to a corporate shareholder.” 

He added: “This is great news for all of our customers as it means, not only do we have full autonomy to continue to invest in our people and technology to develop our proposition, but they can also be assured that we operate without bias or interference.”