The Essex-based financial recruitment firm’s FS registered candidate base, together with company contact details and records, active client list and all terms agreed will be transferred to D&R.

Commenting on the deal, Rico Iheagwara, sales director at D&R (pictured above), said he was excited about further expanding the company’s specialist presence in the South of the country.

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Toni Dines, managing director at Boxtree, said: “From our initial meeting with the D&R team, we have been continually impressed with its approach and undeniable expertise in the lending sector. 

“With our clients demanding such a high level of consultancy and delivery, D&R made the perfect and natural choice to acquire the lending division, allowing us to focus on delivering excellence within the insurance business.”

Sean Farnell, financial director and partner at Burgis & Bullock Accountants, added: "It is so excellent to see how Boxtree continues to go from strength to strength, focusing on core activities within the insurance market."

The purchase of Boxtree’s lending division is set to double D&R’s client base, which includes lenders and brokers across the UK.

The recruiter is also looking to double its staff by 2022, having already appointed Osaorion Amendo as a resourcer — who will officially start on 24th May — to help with the company’s continuous evolution and deal with the increased volume following the acquisition.

The news comes after a period of growth for D&R; In April, it registered a 192% increase in its business targets (the amount invoiced to clients for providing them with candidates).

Currently, D&R has exclusivity for 10 of its 69 broker and lender clients.

D&R focuses on recruitment within the bridging and development lending sectors, with presence in the North and South of the UK.