LSL Property Services purchases Personal Touch

The Birmingham-based advice network Personal Touch Financial Services has been acquired by LSL Property Services in a transaction of nearly £5m. Personal Touch has 474 advisers and at the end of 2016 had over £20m in gross assets, although they reported a loss of £100,000 in December 2016.
LSL Property Services, the second largest estate agent chain in the UK, sees the acquisition as an opportunity to increase in scale and market share. The chief executive, Ian Crabb, commented on the acquisition:
“This acquisition supports LSL’s stated strategy of enhancing its position as a leading mortgage distributor and growing long-term profitability in the provision of residential property services in the UK by identifying value enhancing opportunities,” he said.
“LSL has deep sector expertise in the provision of financial services and PTFS is an excellent fit with our existing financial services businesses.”