Freeths advises on the sale of London-based mortgage broker CCA

Further to the sale of London-based mortgage broker Charles Cameron & Associates Limited (“CCA”) to private equity firm, Lonsdale Capital Partners (“Lonsdale”) in January 2018, the Freeths London corporate team has again advised the management shareholders of CCA on its sale to Socium Group (“Socium”). Following the transaction, Socium will hold a significant controlling stake in CCA.CCA was launched in 2004, the business now has more than 90 mortgage and protection advisers completing over 700 mortgages every month. In the 12 months to April 2021 CCA, completed in excess of £3.1bn in mortgages for their clients. CCA has undergone rapid growth, increasing annual revenue from £9m to £13m. CCA’s management team, led by CEO Simon Nimmo, will remain in place and continue to run the business, with additional resource and funding provided by Socium. The Freeths team was led by corporate partner Francis Dalton, supported by managing corporate associate Naomi Spring. Tax advice was provided by tax associate Matthew Switzer and employment advice was provided by partner, Kevin Poulter. Francis, who has a breadth of corporate advisory experience, commented: “It was great to again advise the management of CCA on a transaction.  It was a complex, regulated transaction and we were delighted to get it over the line smoothly for our clients” CCA CEO Simon Nimmo commented: “We were delighted to work with the Freeths team again on this transaction.  Freeths have a depth of expertise in the financial services and private equity sectors which gave us huge confidence in the team.  Freeths guided us through all elements of the transaction providing clear and commercial advice at all stages”.