Fairstone has taken a majority stake in Wokingham-based Allensons Mortgage Advisors, bringing in recurring revenues of £700,000, more than 5,000 clients and 13 staff.
Allensons will rebrand as Fairstone Mortgage Solutions, with the firm's principal Paul Cleveland (pictured) retaining a significant shareholding alongside Fairstone. Allensons specialises in mortgages...
Creation of chief commercial officer role
£800,000 annual fee income
Private equity-backed business
Northants and Cambs client base
First acquisition of 2021
Almost three-quarters generated positive returns
Integration of Charles Derby and Lighthouse
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Entered administration in April 2020
Cuts fees across multi-manager range