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London & Country mulling £300m sale or float

by LLB Reporter
21st Jun 16 11:49 am

London & Country has hired Fenchurch to advise it on its options

The appeal of the mortgage broking market in the UK seems set for ringing confirmation, with the leading fee-free broker London & Country Mortgages understood to be looking at a lucrative sale or flotation.

Currently controlled by its chairman, Michael Edge, London & Country has hired Fenchurch to advise it on its options following the receipt of expressions of interest in the company. London & Country more than doubled its profits in 2015, making pre-tax profit of £8.5m on revenues of £35.2m, and is said to be seeking around £300m in a sale.

London & Country is one of the largest independent brokers in the UK, with a wide and flexible range of products at its disposal, servicing the needs of customers ranging from first time buyers to buy-to-let investors and those seeking to remortgage. Analysts note that its competitor, the Mortgage Advice Bureau has perfomed notably well since it was floated on AIM in 2014 and expect keen interest in London & Country.

This story first appeared on Acquisitions Daily, a leading publication that provides critical comment, analysis and statistics on every important issue in acquisitions, mergers and buyouts. Sign up here for a free trial.

 

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