Pink Pig Loans

Specialist Mortgage Group sells Pink Pig Loans to management team

Specialist Mortgage Group (SMG), previously known as Y3S Group, has today (16th February) announced the sale of Pink Pig Loans back to its management team.

After four years with SMG, 100% of the shares in the Penarth-based specialist packager have now been acquired by Pink Pig Loans’ managing director, James Rainbird, for an undisclosed amount.

SMG purchased 50% of Pink Pig Loans in 2016, with all outstanding shares bought in 2017.

James said: “This deal is another notable event in the Pink Pig journey, which started back in 2006. 

“I am very excited about what lies ahead and we venture into the future with confidence that this business is in great shape with a fantastic team of people who are totally committed to delivering an outstanding service to our clients, lenders and brokers. 

“We take a lot from our time as a part of SMG and wish our friends there all the best for the future.”

Barney Drake, CEO at SMG, commented: “After four years within SMG, James and his team have put forward an offer that makes perfect sense for both parties.

“It has been an absolute pleasure to have worked with James during a period when we have seen Pink Pig’s growth accelerate through significant investment in office and IT infrastructure, giving us the ability to increase turnover, double headcount at the business, and expand both the introducer network and the firm’s market share. 

“We want to thank James and everyone at Pink Pig Loans for the significant contribution they have made to SMG and wish them the very best of luck with everything they do in the future.”

Cardiff-based SMG includes the packager businesses Y3S Loans, Y3S Bridging & Commercial, Y3S Private Clients, B2B Financial and Chaseblue Loans.

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