Brightstar Group has announced that its leadership team has regained a controlling stake in the business after completing the acquisition of the remaining private equity-owned shares.

The all-cash deal means the leadership team now owns a controlling 54% stake in the firm.

Confirmation of the transaction also comes on the day that the Brightstar Group, which includes Brightstar Financial and Sirius Property Finance, has announced record financial results for 2021. The group delivered a 28.1% increase in turnover on 2020 – rising from £8.1m to £10.4m – and posted a 42.8% increase in capital reserves.

Lending across the group also climbed by 31.7% last year with the business on a current run rate to deliver £2.08bn of lending in 2022. The overall group annual turnover is forecast to increase by 30.2% to £13.5m this year, compared to £10.4m in 2021.

Group CEO at the Brightstar Group, Rob Jupp, commented: “Returning a controlling stake of the Brightstar Group to the leadership team is a massive achievement. We, rightly, looked for external investment to help us grow six years ago and because that growth has been so successful and sustained, we are now in a position where we have been able to buy those shares back.

“It’s an opportunity that very few businesses have, and it means that we have regained and retained our independence – we don’t have to answer to a corporate shareholder. This is great news for all of our customers as it means, not only do we have full autonomy to continue to invest in our people and technology to develop our proposition, but they can also be assured that we operate without bias or interference.”

Chief executive at the Association of Mortgage Intermediaries, Robert Sinclair, added: “The mortgage intermediary and advice community continues to go from strength to strength.

“This announcement from Brightstar should be celebrated across the industry as we see a firm that has raised finance to grow and is now able to restructure based on its profitability and creative leadership. This is indicative of an intermediary sector that is growing up and maturing into a real positive force for good.”

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