Online broker Loan.co.uk has acquired a controlling stake in specialist brokerage Only Bridging.
The North London based broker specialises in second charge, bridging, development and commercial finance and will become a regional office under the Loan.co.uk infrastructure.
The online introducer, headed up by chief executive Paul McGerrigan, opened regional offices in Northern Ireland and Cardiff earlier this year, with the acquisition of Only Bridging bringing the number of offices under the brand to four.
Only Bridging managing director Andrea Juniper says: “This is an incredibly exciting time. I have known Paul and the senior management team of Loan.co.uk for many years. I know they share my ambition and passion for this sector of the market and I’m delighted I can bring my experience and expertise and be a part of making the ongoing growth plans a reality. The synergies were immediately obvious to me and we are already seeing the benefits in distribution, technology, marketing and compliance support.”
McGerrigan says: “This is a very exciting acquisition. We have known Andrea Juniper for a long time and the experience, knowledge, lender relationships and expertise she and her team bring is a huge benefit to our business and the growing base of introducers. In 2017 we will continue our aggressive growth through organic and acquisitive activity.”
He adds that two further acquisitions are in the pipeline for next year.
Pictured: Paul McGerrigan and Andrea Juniper