Following the transaction, the team now owns 54% of shares in the business.
This follows the Brightstar Group’s record performance in 2021, which saw a 28.1% increase in turnover compared to 2020, rising from £8.1m to £10.4m.
In addition, it reported a 42.8% increase in capital reserves last year.
Lending across the group rose by 31.7% in 2021 and the business is on a current run rate to deliver over £2bn of lending this year.
This year, the overall group annual turnover is forecast to increase by 30.2% to £13.5m.
As part of its ongoing growth and development, the Brightstar Group has today launched a new group website, featuring key information about the brands, people and ongoing strategy.
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Rob Jupp, CEO at the Brightstar Group (pictured above), said: “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 that 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.”
Robert Sinclair, CEO at the Association of Mortgage Intermediaries (AMI), commented: “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.”
Adrian Moloney, group intermediary director at OSB Group, added: "Congratulations to the leadership team at the Brightstar Group, which has taken this important step in retaining control and supporting its future growth.
“Transactions like this are a good indication of the strength of the intermediary mortgage market and, in particular, the specialist distribution sector.
“We’re looking forward to working with the Brightstar Group on future developments as they continue to evolve this exciting part of the market."
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