Brightstar Group has announced that its leadership team has regained a controlling stake in the business after completing the acquisition of the remaining private equity-owned shares.
The all-cash deal means the leadership team now owns a controlling 54% stake in the firm.
Confirmation of the transaction also comes on the day that the Brightstar Group, which includes Brightstar Financial and Sirius Property Finance, has announced record financial results for 2021. The group delivered a 28.1% increase in turnover on 2020 – rising from £8.1m to £10.4m – and posted a 42.8% increase in capital reserves.
Lending across the group also climbed by 31.7% last year with the business on a current run rate to deliver £2.08bn of lending in 2022. The overall group annual turnover is forecast to increase by 30.2% to £13.5m this year, compared to £10.4m in 2021.
Group CEO at the Brightstar Group, Rob Jupp, commented: “Returning a controlling stake of the Brightstar Group to the leadership team is a massive achievement. We, rightly, looked for external investment to help us grow six years ago and because that growth has been so successful and sustained, we are now in a position where we have been able to buy those shares back.
“It’s an opportunity that very few businesses have, and it means that we have regained and retained our independence – we don’t have to answer to a corporate shareholder. This is great news for all of our customers as it means, not only do we have full autonomy to continue to invest in our people and technology to develop our proposition, but they can also be assured that we operate without bias or interference.”
Chief executive at the Association of Mortgage Intermediaries, Robert Sinclair, added: “The mortgage intermediary and advice community continues to go from strength to strength.
“This announcement from Brightstar should be celebrated across the industry as we see a firm that has raised finance to grow and is now able to restructure based on its profitability and creative leadership. This is indicative of an intermediary sector that is growing up and maturing into a real positive force for good.”
Latest News
-
Tories pledge to scrap stamp duty on primary residencies
-
IMLA warns Chancellor not to hike taxes in housing market in Budget
-
Lloyds announces full acquisition of SPW
-
Three in five cash ISA savers would consider stocks and shares alternative
-
FTB mortgage applications rise 9.3% in Q3
-
Regulators urged to improve policy communications to advice sector
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories