Private equity house exits mortgage broker in £95m deal

Derby-based mortgage broker Mortgage Advice Bureau (MAB) has made a £95m swoop for Bolton’s Fluent Money, in a deal which sees an exit for Beech Tree Private Equity.

Birmingham-based Beech Tree says it invested in Fluent after identifying the business as the leading broker in the second charge mortgage space. Fluent has now expanded its offering to include mortgages, equity release, bridging loans and insurance to become one of the fastest growing finance brokers in the UK. The business is based in Bolton, has over 450 staff and is now responsible for over £1.6bn of lending per annum.

Andy Marsh, managing partner at Beech Tree said: “We are delighted to have worked with Kevin and the wider management team at Fluent Money over the past few years. The business has grown substantially – both in terms of scale and also in terms of the breadth of its products offerings. Fluent Money is now one of the fastest growing finance brokers in the UK and is well placed to accelerate its growth even further over the next few years. This exit represents a very strong return for Beech Tree and I wish Mortgage Advice Bureau and Fluent every success for the future.”

Kevin Hindley, CEO of Fluent Money said: “Beech Tree Private Equity invested in Fluent Money in February 2016, and following a successful sale to Mortgage Advice Bureau, we are genuinely feeling some sadness at the exit of a close partner. From the very start, the team at Beech Tree have been a real asset to the board of Fluent, and have worked collaboratively with me and the rest of the management team to help build the business into what is today.”

Financial services M&A specialist Fenchurch Advisory acted as lead corporate finance advisors to Fluent’s shareholders. DLA Piper acted as legal advisor for the transaction. Other advisors included BDO (financial and tax diligence), CIL (commercial diligence) and Bespoke M&A (vendor assist).