Pivotal Growth has announced the acquisition of Cheshire-based mortgage broker, Watts Commercial Finance, for an undisclosed amount.

The move will see managing director of Watts Commercial Finance, Phil Gray, join the Pivotal Growth team.

Watts Commercial Finance – which was founded in 2006 by Gray and director, Andrew Watts – specialises in commercial mortgages, bridging finance, commercial buy to let and other specialist areas such as property development, company acquisition finance, invoice finance and unsecured business loans.

Pivotal Growth’s acquisition of Watts Commercial Finance is one of the largest investments since the group’s inception in 2021, as it continues its rapid expansion across the UK. The group has now grown to revenues of more than £70m with over 800 employees.

“We are incredibly excited to welcome Phil Gray, who is an outstanding business leader in the commercial broking space,” said Pivotal Growth CEO, Simon Embley.

“He has built a phenomenal business in Watts Commercial Finance, and we are thrilled that we are the chosen partner to support the business as it seeks to continue its very impressive growth journey. I very much look forward to welcoming the staff into the Pivotal family”

Gray added: “We are delighted to partner with the Pivotal Group for the next exciting chapter in Watts Commercial Finance’s history. As managing director, I’m determined to continue the growth of the business which I started 18 years ago, but now with the strength and power of the Pivotal Group alongside us.

“As we approach our third decade of trading the partnership will allow us to continue to grow from strength to strength, which will bring massive benefit to my team of amazing staff, clients and introducers alike.”

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