A private equity-backed finance broker is set to be acquired by Mortgage Advice Bureau for £73m.
The Derby-based listed company is to snap up 75% of Horwich-headquartered Fluent Money Group in a deal which values it at £95m.
Fluent Money Group was founded in 2008 and has been backed by Beech Tree Private Equity since February 2016.
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It has about 402 full-time employees, including c.125 advisers.
For the 12 months to March 2022, the company is expected to report a revenue of about £38.5m and an adjusted EBITDA of £4.2m.
Peter Brodnicki, founder and CEO of MAB, said: "We are very excited to partner with a like-minded management team and high growth intermediary that is a leader in centralised telephone mortgage advice.
"This acquisition is a perfect example of our strategy to invest in complementary businesses and platforms to help accelerate growth by broadening our proposition.
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MAB has targeted the fast-growing sector of national lead generation by using technology to link together its key appointed representatives and invested firms seamlessly.
"Combined, we expect that Fluent and MAB will be able to grow this new market share opportunity quickly and effectively, complementing the local/regional strategy delivered by the rest of MAB's growing distribution."