Genesis Guaranteed Merger

Genesis Home Loans PLC (“Genesis”) is pleased to announce its merger with Guaranteed Home Loans Network Services Limited (“GHL”). This puts the merged businesses, owned by RGS Acquisitions Limited (“RGS”), well on the way up the Mortgage Network League Table. RGS is the acquisition vehicle by which the Genesis management team bought their business back from Merrill Lynch earlier this year.

Barry Robson, who led the Genesis MBO will take a non executive board role in the combined business and Nigel Gardner will assume the MD role. John Smith, GHL’s MD and major shareholder, will assume the business development role for the combined business.

Barry said: "This is the first step in our merger and acquisition strategy and we have another transaction in our sights that will make us a leader in the Mortgage Network marketplace. We have a superb team who have led and grown their businesses within the new regulatory regime."

John Smith said: "We already have a very strong business model but the merger ensures not only a wide coverage of Appointed Representatives in the field but also a very robust head office team. We have the capacity to further our strategy of growth by acquisition and organically, working together with lenders and our other business partners."

Meta Corporate Finance had already been working with GHL to define their strategy, when Genesis made their approach. Mark Ledger-Beadell, who lead Meta’s services, commented: "the deal seemed so obvious and was attractive to both parties, so the usual extended negotiations were able to be reduced down to a combined effort to cement the deal quickly and get onto the next one."

Advisor

Mark Ledger-Beadell, Meta Corporate Finance

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