Y3S Acquires Stake in Brokerage
Tuesday 20th December 2016
Cardiff-based specialist mortgage group Y3S has acquired a 50 per cent stake in Pink Pig Loans (PPL).
PPL is a brokerage which provides second charge mortgages and bridging finance to mortgage brokers and independent financial advisers (IFAs).
Y3S Group has made a number of investments in other brokerages over the last five years, providing capital, training, recruitment, compliance, accounting and marketing support to aid growth.
Y3S Group chief executive Barney Drake said: "(PPL) MD (managing director) James Rainbird is a good friend and we have worked in collaboration for many years, so this feels really natural for all of us.
"He has steered his business successfully through the recession and beyond and it's now poised for the next stage of growth, which is where Y3S can add real value. Pink Pig Loans is an obvious fit into the group and we look forward to assisting its rapid growth over the coming years."
James Rainbird, managing director of PPL, said: "Joining one of the most exciting specialist mortgage brokerages in the UK is an uplifting experience for the whole team at PPL. The support offered by Y3S has proven to be an excellent growth formula for its existing investments and I am very much looking forward to developing our business together."
Matthew Sutton of law firm Greenaway Scott acted on behalf of Y3S.