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Dorset mortgage brokers sold to European wealth management firm

Davidson Deem has been securing mortgages since 1989

Davidson Deem mortgage brokers sold to European wealth management firm

A Dorset-based mortgage brokers has been sold to a European wealth management firm.

Davidson Deem has been sold to Lumin Wealth, part of Swiss financial provider VZ Group, as part of the firm's long-term strategy to grow in the º£½ÇÊÓÆµ's mortgage industry. The sale was overseen by KBS Corporate associate director Matthew Sibley.

Led by directors Peter Stokes and Brian Keane, Davidson Deem provides mortgage brokerage services across the º£½ÇÊÓÆµ. The firm has secured mortgages since 1989. Mr Stokes and Mr Keane were ready to explore the M&A market, looking to expand under the impetus of new ownership.

Mr Sibley said: “Peter and Brian have built a great business with strong financials and a large client base.

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“KBS has a dedicated outreach team that can find the right buyers and Davidson Deem was an attractive opportunity to approach prospective acquirers with.”

Utilising offices in London, Cambridge and St Albans, Lumin Wealth manages client assets valued at over £1bn.

Mr Sibley continued: “Lumin has identified Davidson Deem as the ideal platform from which to build its own mortgage network.