Mortgage Finance Gazette, Target Group acquires Freedom Finance
Freedom Finance Ltd, the UK’s largest personal loan broker, has been acquired by SOF Annex Fund as part of the strategic growth plans for its portfolio company, Target Group.
Target provides outsourcing and software to financial services firms. It currently has more than £10 billion of loans and savings running on its platform across multiple product types and customers.
The acquisition will bring together Freedom Finance’s brokerage and technology with Target’s industry knowledge, software and servicing expertise.
Freedom Finance was previously controlled by Rupert Webb and a private equity investor.
Managing director Nicola Georgiou says the company is delighted by the move.
“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 offers us valuable partners with which to expand into other areas of financial services.”
SOF managing partner Lindsey McMurray says Freedom Finance will be a “fantastic addition” to the Target Group.
“We’re excited about working together to build a business that delivers market-leading products and services to create long-term sustainable success.”
The SOF Annex Fund is advised by SOF Investments Limited, a private equity fund manager focussed on investing in businesses in the financial and business services sectors.