Cash boost allows Personal Touch to step out on the acquisition trail

Personal Touch Financial Services is on the acquisition trail following a cash injection from Lloyds Development Capital, part of the Lloyds TSB group.

Dev Malle, director of mortgage distribution at PTFS, says the money the network made when Lloyds bought a 22% share in it earlier this year will enable growth through acquisition.

Malle says: “The Lloyds deal will allow PTFS to build the corporate structure that is important when a firm is seeing substantial growth as we are.

“The new capital means we will be able to grow through acquisition. We are looking at companies we can buy, from independent financial advisers to mortgage networks.”

But it’s unlikely any acquisitions will be made soon as Malle says the process is long and complicated.

He says: “These things go through a long and arduous process so at this stage we’re comfortable to just talk to people. We think that’s as far as we should take it right now.

“It’s no secret we’ve got ambitious growth plans but know it is important that we remain steady and grow in a controlled way. We’re not going to go and acquire any organisations if we are not comfortable with the liabilities involved.”