Freedom Finance has been acquired by SOF Annex Fund, as part of the strategic growth plans for its portfolio company, Target Group.

Freedom Finance was previously controlled by Rupert Webb and a private equity investor.

The acquisition will bring together Freedom Finance’s brokerage and technology with Target’s software and servicing background.

Nicola Georgiou, managing director of Freedom Finance Ltd, said: “We are delighted to announce that Freedom Finance has been acquired by SOF. We have very ambitious growth plans for the business and SOF are the right shareholders to help us achieve those targets.

“The diverse portfolio of SOF companies offer us valuable partners with which to expand into other areas of financial services using our unique sourcing platform. We have already identified a number of exciting opportunities and are looking forward to this new growth phase.”

Lindsey McMurray, managing partner of SOF Investments Ltd, added: “Freedom Finance will be a fantastic addition to the Target Group allowing us to deliver a compelling proposition with the highest standards of regulatory excellence to both existing and new customers. At SOF we seek to invest in high-quality businesses operating in specialist markets with entrepreneurial and driven management teams.

“Freedom Finance and the team led by Nicola Georgiou certainly have these qualities and we’re excited about working together to build a business that delivers market-leading products and services to create long-term sustainable success.”