Livingbridge, the leading mid market private equity player, is pleased to announce an investment in the national mortgage broker Contractor Mortgages Made Easy Ltd to support its ongoing growth. At the same time Contractor Mortgages Made Easy Ltd is making an acquisition of Contractor Financials Ltd.
Contractor Mortgages Made Easy Ltd was established in 2004 by Sat Singh. He now runs the business as CEO with two fellow directors Taj Kang and Andy McBride. The business is one of the UK’s leading providers of broking services for mortgages and related financial products to the contractor freelancing industry. Both companies’ growth has been further underpinned by the implementation of the Mortgage Market Review (“MMR”) in 2014. The combined business will employ over 130 staff and will continue to champion the cause of the contractor freelancing community by working with the UK lending industry to ensure their unique circumstances are catered for.
Contractor Financials Ltd was established in 2002 by Tony Harris. It is also a specialist in advising freelance contractors on access to mortgage and related products.
Sat Singh will become CEO of the merged group and the combined business will deliver over 6000 mortgages per year. The business has ambitious growth plans and the investment and support from Livingbridge will help the enlarged business to invest in marketing and systems to improve its operations and market position.
Details of the terms of the transaction are not being disclosed.
Sat Singh, Contractor Mortgages Made Easy comments: “The acquisition of Contractor Financials Ltd, coupled with the investment from Livingbridge, will allow us to create a market leading proposition and build a best of breed business with a view to serving the financial interests of the contractor freelancing community.”
Matt Upton, Livingbridge comments: “We like the specialist nature of Contractor Mortgages Made Easy with a distinct focus on the market segment of freelance contractors. We have strong experience in investing in the arena of financial services and look forward to being a long term partner to Sat and his team to support the business plan.”