Mortgage Brain has bought the TrigoldCrystal Group for £6.8m or an alternate combination of cash, loan notes and shares totalling £9.9m.
Brokers will see no change to sourcing systems with the two brands expected to remain, but streamlining of the back-end processes is due to start next year. The deal offers combined annual business revenues of £11m and will create the third largest provider of financial technology solutions behind The Exchange and Sirius. The deal will be put shortly to shareholders and is expected to conclude within the next three months. A notification will also be made to the Office of Fair Trading for clearance. Mortgage Brain's Mark Lofthouse will become the combined CEO of the new business, w...
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