Charcol buys Southampton-based Simply Finance

John Charcol, mortgage specialists with over 40 years’ of heritage, have acquired the Southampton-based Simply Finance Group for an undisclosed figure.

Simply Finance will add 30 advisers to John Charcol’s existing team of over 85 mortgage advisers, and a new secured loan capability, through Simply Loans.

Through the deal, John Charcol’s Chief Exec Simon Knight and MD Walter Avrili will join the Simply Finance board and Peter Williams and Ben Larkin, founding directors of Simply Finance will join the Charcol leadership team.

Of the acquisition, Simon Knight said “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.”

Peter Williams added “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.”

John Charcol was sold by Towergate last March to Private Equity house Palatine Private Equity, which may pave the way for further rapid growth through acquisition by Charcol.