John Charcol buys Simply Finance Group

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John Charcol has bought Simply Finance Group for an undisclosed sum.

Southampton-based Simply Finance, which launched in 2006, has around 30 advisers, taking the total within the John Charcol group to around 115.

The deal also means Charcol will get secured loans advice business Simply Loans.

As part of the deal, Charcol chief executive Simon Knight and managing director Walter Avrili will join the Simply Finance board. Simply Finance founding directors Peter Williams and Ben Larkin will join the management team at Charcol.

Knight says: “The acquisition of Simply Finance is a key part of our growth strategy giving us immediate increased capacity, an extension to our customer proposition, and capabilities that complement our existing areas of strength.

“Both Peter and Ben are entrepreneurs who have successfully built a hugely impressive business supported by a great team of people, with lots of potential to continue to grow.”

Williams says: “John Charcol is a natural partner for us as we enter our next phase of growth. It is a growth-orientated business with a clear strategy led by an exceptional management team. This is a great deal for our staff and customers enabling us to invest further in areas of the business where we can offer a winning mortgage proposition.”