BGF has successfully exited its investment in Mortgage Support Services (MSS), the group behind Stonebridge Mortgage Solutions and a range of mortgage, protection and technology businesses.
MSS has entered into an agreement to be acquired by BetterHome Group, South Africa’s largest mortgage distributor and parent company of HLPartnership, a UK network of mortgage intermediaries.
BGF partnered with MSS in 2015 to support its continued growth ambitions. Since then, the company has delivered sector-leading growth, both organically and via acquisitions, resulting in a five-fold increase in EBITDA during the decade-long investment period. MSS also strengthened its senior leadership, via the introduction of Stuart Warriner as Chair through the BGF Talent Network.
Rob Clifford, founding director of MSS, said: “We’ve had a hugely successful partnership with BGF over the past decade and seen the benefits of a minority investor with a long-term view.
“In addition to the impact of the funding, we have also been able to create value around technology and talent as we’ve scaled. BGF has been able to offer expertise as we’ve invested in developing our digital infrastructure, including a customer centric AI strategy, creating the foundations for our next growth phase.”
This transaction will create one of the UK’s largest intermediary network businesses and support the continued growth of MSS and Stonebridge Mortgage Solutions. It will build on the strength of their existing teams, member proposition and relationships across the industry.
Jill Williams, regional portfolio partner at BGF, said: “MSS’ growth journey over the past 11 years epitomises the kind of business BGF looks to back. Against a fast-changing backdrop, Rob and the team have built an exceptional business with a customer-centric approach, establishing Stonebridge as one of the most respected businesses in the sector and this deal is testament to their success.”
David Bellis, investor at BGF, added: “We’re proud to have partnered with the team to achieve their goal of growing market presence organically and through M&A. The business has found an excellent home in BetterHome Group and the transaction will deliver a positive outcome for all involved.”
