Pivotal Growth has announced that it has acquired John Charcol Group and that the transaction has been approved by the FCA in respect of a change in control.

John Charcol is a well-known mortgage and protection broker with offices in London and Southampton, having been established in 1974 as one of the first mortgage brokers in the UK. The business manages over 150 mortgage and protection advisers.

In 2015, Palatine Private Equity LLP acquired John Charcol and in 2019 appointed Waypoint Change, who have succeeded in growing the adviser base and introducing technology-led initiatives to improve the customer experience.

This investment marks the eleventh acquisition made by Pivotal Growth since its inception in 2021, following on from its most recent acquisitions of Select Mortgage & Financial Solutions and Select Brokers in early 2024.

The acquisition of John Charcol increases total group annualised revenues to circa £63m with more than 410 advisers and 615 staff members. The acquisition will be funded with Pivotal Growth’s excess cash.

Simon Embley, CEO of Pivotal Growth, said: “I am absolutely delighted to welcome such an iconic brand to Pivotal Growth. John Charcol needs no introduction to any market participant, having historically been recognised as one of the most prestigious mortgage brokers in the UK. Palatine and Waypoint have done an excellent job in transforming the business and in ensuring its profits have grown. Through further investment, our plan is to grow the adviser base and diversify and develop the product offering, which we see as a significant area for growth.”

Chris Wallis, managing director and CEO of John Charcol, added: “This transaction is great news for John Charcol. I look forward to working with Simon and the Pivotal Growth team to build on the growth we have seen in recent times.”