Pivotal Growth, the joint venture between LSL Property Services and Pollen Street Capital,has acquired Watts Commercial Finance as it continues its quest to invest in growing profitable mortgage and protection brokerages and to help them build long term sustainable value.
Watts Commercial Finance is a commercial mortgage broker headquartered and operating from its offices in Nantwich, Cheshire.
It specialises in commercial mortgages, bridging finance, commercial buy-to-let and other specialist areas such as property development, company acquisition finance, invoice finance and unsecured business loans.
The business was founded in 2006 by the Managing Director, Phil Gray and Director, Andrew Watts and is now one of the largest commercial brokers in the UK.
STRONG RELATIONSHIPS
Phil Gray joins the Pivotal Growth team with a wealth of experience and brings with him strong relationships with some of the largest commercial banks in the UK.
Watts Commercial Finance will look to leverage Pivotal Growth’s own growth-oriented strategy to expedite its current growth trajectory and expand the business’ footprint across the country in areas it currently does not service.
Pivotal Growth’s acquisition of Watts Commercial Finance is one of the largest investments since its inception in 2021 as it continues its rapid expansion in the UK.
The group has grown to revenues in excess of £70m with over 800 employees.
Simon Embley (main picture), Chief Executive Officer of Pivotal Growth, says: “We are incredibly excited to welcome Phil Gray, who is an outstanding business leader in the commercial broking space. He has built a phenomenal business in Watts Commercial Finance, and we are thrilled that we are the chosen partner to support the business as it seeks to continue its very impressive growth journey.
“I very much look forward to welcoming the staff into the Pivotal family.”
Phil Gray, Managing Director of Watts Commercial Finance, adds: “We are delighted to partner with the Pivotal Group for the next exciting chapter in Watts Commercial Finance’s history. As Managing Director, I’m determined to continue the growth of the business which I started 18 years ago, but now with the strength and power of the Pivotal Group alongside us.
“As we approach our third decade of trading the partnership will allow us to continue to grow from strength to strength, which will bring massive benefit to my team of amazing staff, clients and introducers alike.”
